Gordon Brothers seeks buyers for GCC steel production plant

Gordon Brothers, the global asset experts headquartered in Boston, US, have been appointed as the exclusive selling agent for a never-used two million tonnes-per-annum (TPA) flat and long steel production plant.

The facility is owned by one of the most renowned and largest steel manufacturers in the GCC.

According to Gordon Brothers, this sale presents buyers with a unique opportunity to accelerate their entry or expansion into the growing market for high-quality steel products.

Posco was originally purchased in 2007 to enhance the seller’s manufacturing capacity, the plant assets include 10,200 cases weighing over 53,000 tonnes.

Gordon Brothers said in a statement that the equipment remained unused, crated, and stored according to OEM recommendations despite being delayed by the 2008 financial crisis and further postponed due to the COVID-19 pandemic.

“This is a once-in-a-decade opportunity to fast track the setup or diversification of a small-to-medium-sized steel production plant,” Nicholas Schofield, Senior Director, Commercial & Industrial at Gordon Brothers commented.

With market conditions stabilizing, the owners decided not to proceed with their initial expansion plans, thus making this advanced, near-complete steel production setup available for sale. Schofield explained that this unused flat rolling steel module allows buyers to enter the market quickly, avoiding long lead times and risks of new equipment setup.

He added that the equipment can be upgraded with modern electronics, ensuring it meets current production standards and offers long-term value

Phillip Weston, Director, of Commercial & Industrial at Gordon Brothers, said It has already attracted significant interest from buyers and is impressed by the strong global response.

“This is the final chance for an enterprising steel mill owner to secure a near-complete, unused package of equipment ideal for tapping into the growing demand for flat rolling steel,” he added.

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