Al-Tuwairqi Rescues UK Steel Firm

Al-Tuwairqi Group, a Saudi holding group, has acquired a steel manufacturer in Kent England out of administration. At their height, Thamesteel was one of the fastest growing steel manufacturers in the UK with annual revenue of over £100 million, but went into administration earlier this year with the loss of more than 350 jobs. The sale will mean that steel production on the site can recommence.