Stemcor
| Company type | Private company |
|---|---|
| Industry | Steel trading |
| Founded | 1951, London |
| Headquarters | Worldwide, , |
Number of locations | 80 (in 40 countries) |
Area served | Worldwide |
Key people | Oppenheimer family |
| Revenue | £2.1 billion (2011) |
Number of employees | 1401 |
| Website | stemcor.com |
Stemcor is a British steel trading company. The company is based in London, UK, and has 80 offices in 40 countries around the world, employing more than 1400 people.
In 2009 the company was ranked as the third largest privately owned company by turnover in the United Kingdom by The Sunday Times' Top Track 100 list.[1] The company doesnot own any steel producers, and the majority of the shares are held by the Oppenheimer family.[2]
History
In 1951 Coutinho, Caro & Co (London) Ltd was established by Hans Oppenheimer and a German trading company, Coutinho, Caro & Co. The German company was sold to J McDermott in 1984, and in 1985 Hans Oppenheimer died passing his 50% ownership of the London company to his children. In 1987 Ralph Oppenheimer negotiated his family's purchase of the remaining 50% of the company. Upon completion of the deal in February 1988 the London company name was changed to Stemcor, an abbreviation of steel Marketing corporation. In 2007 Stemcor acquired SPS which supplies steel plates to the oil and gas industries.[3]
Presently Oppenheimer's son Ralph is executive chairman, while daughter Margaret Hodge MP is a shareholder.[4] Stemcor's trades around 20 million tonnes of steel and steel-making raw materials employing 2,000 people in a network of 145 business units in 45 countries across the world.[5] In 2011, on a global turnover of £2.1Bn, it made profits of £65M, paying business tax of £163,000.[6]
References
- ^ "Stemcor". The Sunday Times. Retrieved 2010-10-30.
- ^ "About us". Stemcor. Retrieved 2010-10-30.
- ^ http://www.thesundaytimes.co.uk/sto/business/Top_Track_00/article102260.ece
- ^ http://www.guardian.co.uk/politics/2010/mar/13/nick-griffin-margaret-hodge-barking-dagenham
- ^ http://business.timesonline.co.uk/tol/business/specials/top_track_100/article6617969.ece
- ^ http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/9668396/Margaret-Hodges-family-company-pays-just-0.01pc-tax-on-2.1bn-of-business-generated-in-the-UK.html