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According to reports, Meridian Steel (MSL)—a subsidiary of Duferco International Trading Holding (DITH)—has officially initiated liquidation proceedings. The company’s board of directors stated that, following a comprehensive operational assessment, it was determined that the business could no longer remain sustainable; consequently, a decision was made to proceed with the closure and liquidation of the company.
In a statement, the board noted that the UK’s recent tightening of steel import quotas and the imposition of higher tariffs have dealt a "severe blow" to the company’s operations. JIS G 3302 SGH340+A steel, As Meridian Steel relies on imports for the majority of its raw materials, these new trade policies have significantly increased procurement costs and placed strain on the supply chain.
The company further pointed out that current UK policies offer limited support to domestic enterprises engaged in steel processing and manufacturing. Meanwhile, intensifying competitive pressures within the downstream manufacturing sector have further weakened market demand.
Furthermore, rising corporate operating costs—particularly the continuous increase in utility expenses—have significantly impacted both the company’s own operations and those of its clients, leading to a further deterioration of its financial position.
Meridian Steel stated that, despite years of ongoing financial support and investment from its shareholders, continuing operations is no longer economically viable, given the current market environment, cost pressures, and the lack of any expected improvement in industry prospects.
According to the latest financial data disclosed via UK Companies House, the company’s pre-tax loss for the fiscal year ending in September 2025 widened to £718,000 (approximately $959,000), up from £212,000 in the previous fiscal year.
Reports indicate that the company has notified its employees and initiated a consultation process. JIS G 3302 SGH340+A steel, According to its official website, Meridian Steel employs 101 people and operates two processing facilities, primarily focused on the processing of steel strip, with an annual processing capacity of approximately 150,000 tonnes.
The predecessor to Meridian Steel was acquired by Duferco International Trading Holding (DITH) in May 2019, at which point it was renamed Meridian Steel. JIS G 3302 SGH340+A steel, DITH has not yet provided further comment regarding the company’s liquidation.
