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Dear Valued Customer

Today, it is with great pleasure that we announce that Marubeni-Itochu Steel Inc. (MISI) has acquired the entire share capital of the B&M Group (B&M), including B&M Steel, B&M Architectural, Steel Plate and Sections (SPS), Industrial Metal Services (IMS), Avon Steel and Abram Pulman Steel.

Marubeni-Itochu Steel Inc. (MISI), based in Tokyo, Japan employs over 10,000 people, has a presence in 90 countries, is one of the largest steel suppliers in the world, with revenue in excess of £16.5 Billion pounds per year and total assets approaching £10 Billion pounds.

MISI is a major supplier of steel products and have divisions in Oil & Gas, Automotive, Shipbuilding, Civil Engineering, Construction & Electrical Appliances along with renewable energy.

MISI plans to grow presence within the UK and European markets and the acquisition of the B&M group will add real value adding businesses to its existing portfolio. With plans to invest significantly post acquisition it will be an exciting opportunity to expand and grow further globally.

Tatsuhiko Toshita President & CEO of Marubeni-Itochu Steel Inc. said “MISI are the instant, global supply solution, our worldwide infrastructure will help us catapult the B&M group to the next level”.

Mike Walton CEO Barclay & Mathieson Group said “It’s an exciting time for the B&M Group, with further plans for growth in the UK & the rest of the world, the backing of our new parents and the significant resources both financial and operational will enable us to deliver those goals”.

Barclay & Mathieson Ltd founded in Glasgow is 1877 has become one of the largest steel stockholders in the UK. With 145 years of experience and with depots in Aberdeen, Glasgow, Cheadle, Preston, Liverpool, Morecambe, Sheffield, Nottingham, Peterborough, Bangor, Winchester, Kent & Essex enables us B&M to provide customers with same day and next day steel.

Marubeni-Itochu Steel Inc. (MISI) was launched in 2001 through the merger of steel business divisions spun off by two general trading companies, ITOCHU Corporation and Marubeni Corporation. Over the years since, MISI has steadily bolstered and expanded its stellar expertise in steel product distribution, and leveraged the global information network capacity essential for a general trading company to succeed. Within the critical field of steel distribution—an area demanding high specialization spanning diversified demand sectors—the MISI Group diligently pursues the enduring quest for added value as an integrated steel distribution producer

5th October 2022

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