Murray Capital has sold its Asian steel business, Murray Energy Asia, to the company’s management.
Founded in Singapore in 2014, it supplies steel products to the Asian energy market.
The sale comes as part of Murray Capital’s move to consolidate its focus on UK markets, through its Murray Steels and Hillfoot Steel businesses.
Teresa Chong will take on leadership of the Asian business. She has been at Murray Energy for eight years, holding a variety of leadership positions, most recently as managing director.
Managing director David Murray said: “We are proud of the work that we have done with Murray Energy Asia, over the past few years, we have succeeded in nurturing a thriving business in a complex operating environment, supplying customers with high-quality products.”
“Teresa has been with the business since its early days, we could not think of a better person to take it forward.
“Her insights and strategic approach will undoubtedly contribute to the company’s continuing success and growth in the industry.”
Chong said: “From joining as a sales manager, I never imagined that I would become the owner of the company today.
“I have grown and prepared myself for the entrepreneurial journey that now lies ahead.
“Transforming the steel industry through digitalisation has always been my desire, and now I eagerly look forward to bringing the company to new greater heights.“
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