Macsteel International

Macsteel International Trading Holdings B.V. (MITH), headquartered in Amsterdam, is the steel trading division of the Macsteel Group. MITH is a major international steel and raw materials trading company operating through four regional hubs located strategically in New York, Hong Kong, Dubai and Melbourne, Australia. It has grown substantially from its origins in the Far East during the early 1980s, following the acquisition of trading house Leo Raphaely & Sons. MUR Group B.V. (MUR), also headquartered in Amsterdam, is the shipping division of the Macsteel Group. Over the past 20 years MUR has been developed as a standalone business, transporting dry cargo around the world and has grown from shipping 1 million tonnes of cargo a year in 1995 to more than 45 million tonnes today. MUR has over 250 employees worldwide, with operations in over 13 countries, and controls up to 150 owned and chartered vessels operating on 25 routes. Macsteel International Holdings B.V. (MIHBV), the parent company of MITH and MUR, was previously a 50:50 joint venture between Macsteel Global S.à.r.l. B.V. (MacGlobal) and MSSA Investments B.V., a subsidiary of ArcelorMittal South Africa Limited (AMSA). With effect from 2 November 2018, MIHBV became a wholly owned subsidiary of MacGlobal. As part of the arrangements between MacGlobal and AMSA, a four-year marketing agreement between AMSA and MITH for all of AMSA’s export material also became effective. Steel is a commodity that leads economic cycles and the Group reacts swiftly to changing circumstances, allowing it to survive difficult times such as the Asian Crisis of 1997 and the global financial meltdown of 2008, whilst still being able to prosper when demand is strong. MacGlobal is fully committed to the development and expansion of the businesses and continues to provide experienced worldwide marketing services and complete supply chain management expertise. MISSION STATEMENT To be the most dynamic and respected international service provider, linking producers and consumers of steel and similar commodities, by providing efficient and reliable communication and supply lines via marketing, shipping, logistics and finance. CORPORATE GOVERNANCE Macsteel International Holdings B.V. and its subsidiaries are fully committed to the principles of good corporate governance and the application of the highest ethical standards in the conduct of its business. The Group complies, in all material respects, with the principles incorporated in the corporate governance standards in the countries in which it operates. ETHICS Directors and employees are required to maintain the highest ethical standards, ensuring that business practices are conducted in a manner that, in all reasonable circumstances, is beyond reproach. In this respect the Group and its subsidiaries have adopted a Corporate Code of Conduct which has been approved by the Board of Directors. The Group is committed to providing equal opportunities to all its employees regardless of their ethnic origins or gender. DIRECTORATE The Board includes executive directors selected from the Macsteel International Holdings B.V. (MIHBV) executive management. The selection of directors is based on their business acumen and skills. The Group follows a decentralised approach with regard to the day-to-day running of its business.

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