IMS UK, part of the IMS Group, is pleased to announce that following the Annual General Meetings of both companies' shareholders, that the merger of Jacquet Metals into IMS Group has been approved and completed. It was authorised by the European Commission competition authorities on 14 July 2010 and completed on 20 July 2010. A nine member Board of Directors has been established for the new Group with Eric Jacquet appointed as Chairman and CEO.
Jacquet Metals an established market leader head quartered in Lyon France, is a distributor of stainless steels and nickel alloys, primarily for thick plate format, so-called "QUARTO". It has a network of 38 subsidiaries including 22 distribution centres. The Group serves 7,500 customers in 60 countries throughout the world operating in the sectors of water treatment, environment, energy, mechanical construction, chemistry and the agri-food industry. Jacquet Metals had world-wide sales of €131m in 2009, with over 80% of their sales being international.
IMS Group has over 30 years experience as a leading European distributor of abrasion resistant, high yield and specialty steels and manufacturer of processed components. Also head quartered in France, IMS Group had revenues of €727m in 2009 and sales, distribution and processing locations in 17 European countries. The Group delivers its products within a number of diverse and varied industry sectors including; mines and quarries, recycling of paper, wood, rubber, metal, glass and foundry sand, agricultural equipment, cement and concrete industries, building, construction and public works, foundry, iron and steel industries as well as waste collection and drilling and exploration.
The merger between IMS Group and Jacquet Metals brings together product portfolios that are highly complementary. With the increased product line distributed by Jacquet Metals, IMS Group is now playing a major role in four distribution markets in Europe: steels, mechanical abrasion-resistant steels, steel bars and stainless steel quarto plates and will provide the new Group with a strengthened strategic position within the European market for the distribution of specialty steel.
With a workforce of nearly 2500 employees and a network of 90 distribution centres in 22 countries in Europe, Turkey, China and the United States, the new Group has expected combined 2010 revenues of more than €1 billion.