Majority-owned by executive chairman Ralph Oppenheimer and his family, Stemcor trades steel and raw materials, and provides marketing, finance and logistics services to the steel industry. The London-headquartered firm, which bills itself as the world’s largest independent steel trader, employs 1,700 people in 45 countries. Thanks to rising steel prices and increased volumes, sales increased from £3,540m in 2009 to £5,141m in 2010, and the company reported profits of £115m, the highest in its 60-year history.
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