London-based Stemcor bills itself as one of the world’s biggest independent steel traders, employing almost 2,000 people in 45 countries. It announced in March that tough domestic trading had forced it to restructure and cut 5% of its UK workforce. Stemcor is now in talks with its bankers over a £700m debt repayment programme. The company is majority-owned by chairman Ralph Oppenheimer, 72, and his family. As well as trading steel and raw materials, it sells marketing, finance and logistics services to the steel industry.
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