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Company

Profile

For more than thirty years the Macsteel Group has been trading steel around the globe. From small beginnings in the Far East during the early 1980s, following the acquisition of trading house Leo Raphaely & Sons, steel products are now traded through three regional hubs located strategically in New York, Hong Kong and Dubai.

Over the past 20 years MUR Shipping has been developed as a standalone business, transporting dry cargo around the world. MUR own and operate primarily handysize and handymax dry bulk cargo ships with regular sailings on numerous trade routes. Its major offices are found in Dubai, Johannesburg, Sydney and Copenhagen.

Macsteel International Holdings B.V. was set up as a joint venture between Macsteel Holdings Luxembourg S.à.r.l. (previously Macsteel Holdings Proprietary Limited) and ArcelorMittal South Africa Limited (previously Iscor Limited) around Macsteel’s pre-existing international steel marketing organisation and is headquartered in Amsterdam, a centuries old trading capital. The joint venture started its operations on 1 January 1997.

In the early years a significant part of the steel traded internationally was sourced from Iscor, renamed Arcelor Mittal South Africa (AMSA). Although steel products are today sourced from around the world but AMSA remains an important source of steel products to the Group. Through the joint venture and Macsteel International Trading operations it provides experienced worldwide marketing services and complete supply chain management expertise.

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.

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 and non-executive directors chosen from ArcelorMittal South Africa and the ArecelorMittal Group. 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.

Click on a director's name to learn more about them.


Louis van Niekerk


CEO of Macsteel International Holdings B.V. (Executive Joint-Chairman)

Chartered Accountant CA(SA) with a master’s degree in commerce. Louis van Niekerk joined the Macsteel Group in 2009. Appointed as an executive director and joint-chairman of MIHBV in 2012. Currently executive joint-chairman of Macsteel Global S.à.r.l. B.V., group chief executive officer and chairman of the board of Macsteel International Holdings B.V. and board member of both MIHBV and MUR Shipping Holdings B.V. Louis has extensive management and business experience over many years, particularly in the steel industry, and extensive project management experience in major capital projects. Between 1976 and 1991 he held a number of senior management and financial positions at various leading industrial groups in South Africa, heading up major re-engineering projects at both Iscor and Transnet. He was the executive finance director and chief executive officer at Iscor Ltd (now ArcelorMittal South Africa) between 1991 and 2004. The re-engineering at Iscor Steel allowed Iscor to unbundle its operations into Iscor Limited which retained the steel and incorporated mining operations (now ArcelorMittal) and Kumba Limited. During Louis’ tenure as CEO, the then Saldanah Greenfield steel project was planned and built. From 2005 to 2009 he held the positon of chief operation officer of Transnet.

Robert Muirhead


CEO MUR Shipping Group (Executive Director)

Robert has more than 33 years of experience in the shipping industry. After completing his training 1982, he worked at Anglo Eastern as a shipbroker. In 1986 he joined Argosy Chartering in Hong Kong as a director and formed a new broking company with two partners, concentrating on dry cargo chartering, sales and purchase. Between 1988 and 1990, Robert was a director at Kellett Shipbrokers in Hong Kong. He then moved to Arcadia Shipbrokers in Montreal, Canada, where he became a director in 1992. He first joined the Macsteel shipping division in January 1994, where he was employed to develop and expand Macsteel shipping activities. He was appointed a director of MUR Shipping Holdings B.V. (MUR Group) in March 1997. Robert has been chief executive officer of MUR Group since January 2000. He was appointed director of Macsteel Global S.à.r.l. B.V. in 2011 and director of MIHBV in January 2013. In January 2017 Robert was appointed as executive chairman and will continue as chief executive officer of the MUR Group.

Salvatore Purpura


CEO MI Trading Group (Executive Director)

Sal graduated from Baruch College in New York in 1979 with a bachelor’s degree in business administration. He then joined Eisner & Lubin LLP (CPA firm in Manhattan) and obtained his Certified Public Accountant license. He entered the commodities business in 1983 by joining Associated Metals & Minerals, which was subsequently acquired by the Macsteel Group in 1986. Sal was appointed chief financial officer of Macsteel International USA Corp in 1991 and then as its chief executive officer in 1996. In 2010 he was appointed chief executive officer of Macsteel International Trading Group (MI Trading Group) and in 2012 as executive director of the MIHBV Board of Directors. In January 2017 Sal was appointed as executive chairman of the MI Trading Group and will continue as the chief executive officer.

Adriaan Veltema


Company Secretary (Executive Director)

After graduating in Tax Law at Leiden University in The Netherlands, he was appointed international tax manager at Arthur Andersen Amsterdam from 1985 to 1995. Adriaan joined the Macsteel Group in 1995 as tax director. He was then appointed as director of Macsteel Global S.à.r.l. B.V. and director of Macsteel International Holdings B.V. Board of Directors from 1996 to present.

Ramesh Kothari


(Non-Executive)

Ramesh is currently Vice President of the ArcelorMittal Group as well as Chief Financial Officer for the business area of ACIS within the ArcelorMittal Group responsible for technical, finance, human resources and information technology. He holds a Chartered Accountant degree from the Institute of Chartered Accountants of India. He has over 20 years of working experience in various industries and has held key executive finance roles.

Wim De Klerk


(Non-Executive)

Wim is currently Chief Executive Officer of ArcelorMittal South Africa and Vice President of ArcelorMittal. He holds a BAcc degree (honours) from the University of Pretoria, an Executive Management Diploma (Darden), a Strategic Marketing Diploma (Harvard) and CA(SA). He is a Chartered Accountant with more than 30 years working experience, including expertise in auditing, tax, steel and mining and spent the last 18 years in various general management positions at Iscor, Kumba Resources and Exxaro Resources. Prior to joining ArcelorMittal South Africa he held the position of Finance Director and Executive Director at Exxaro. Previous positions include Executive General Manager: Mineral Sands and Base Metals at Exxaro, General Manager: Heavy Minerals at Kumba Resources, Group General Manager: Strategy and Continuous Improvement at Iscor, Director: Counter Trade and International Transaction Structuring at Denel, Manager: Tax and Corporate Finance at Armscor, Senior Tax Inspector at the SARS and Audit Manager and Article Clerk at PricewaterhouseCoopers.

Dean Subramanian


(Non-Executive)

Dean holds a Bachelor of Accountancy Degree, a Bachelor of Accounting Science (Honours) and is a Chartered Accountant (South Africa). Currently he is the Chief Financial Officer and Executive Director to the Board of ArcelorMittal South Africa with effect 1 August 2015. Dean was responsible for various roles within the Aveng Group, the most recent being that of Financial Executive for the Steel Cluster as from 2011 until his recent appointment. He is a seasoned finance professional with 21 years of experience gained in retail, financial services, the airline industry and construction sectors.

Richard Holcroft


(Non-Executive)

Richard holds a Bachelor of Science degree (Computer Science) from the University of South Africa (UNISA) as well as a National Higher Diploma in Electrical Engineering from the Vaal University of Technology. He is currently General Manager of ArcelorMittal Saldanha Works effective August 2013. Richard has worked at both the ArcelorMittal South Africa Vanderbijlpark and Saldanha Works, and has over twenty-five years of Steel Making and Engineering experience. His tenure at Saldanha Works started in April 1996 where he was involved in both the project development and commissioning phases of the plant. Richard has held various management positions at ArcelorMittal Saldanha Works, including that of Engineering Manager, IT & Process Automation Systems Manager and Plant Manager Iron Making.

Structure