Company

Profile

Macsteel Global Limited (MacGlobal) is the indirect holding company of Macsteel International Trading Holdings Limited (MITH Ltd), MUR Shipping Holdings Limited (MURSH Ltd) and Macsteel Service Centres SA (Pty) Ltd (MSCSA). It is also the holding company of MacGlobal Services Limited, which is the group corporate services company operating from London.

MITH Ltd has been trading steel and raw materials for over forty years, operating through four main hubs located strategically in Dubai, Hong Kong, New York and Melbourne, as well as South Africa through its sister company, MSCSA. It has grown substantially from its origins in the Far East during the early 1980s, following the acquisition of trading house Leo Raphaely & Sons.

MURSH Ltd is the shipping subsidiary of the Macsteel Group. Over the past 30 years, MURSH Ltd has been developed as a standalone business, transporting metals, minerals, agricultural products, construction materials and specialist cargoes, like wind turbine blades and components, across six continents, completing 1 000+ voyages, over 24 core trade routes, on behalf of 300+customers, with the support of 2000+ seafaring staff and 240+ on shore staff, with 14 offices globally.

Founded in 1904, MSCSA has a rich legacy as a leading manufacturer, merchandiser and distributor of steel and value-added steel products on the African continent. MSCSA operates through a strategic network of over 40 service centres, branches and warehouses, providing exceptional levels of personalised service throughout the entire steel supply chain.

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, the global financial meltdown of 2008 and more recently the Covid-19 pandemic, 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 provider of steel, maritime logistics and freight services. Linking producers and consumers of steel and similar commodities, through efficient and reliable communication and supply lines via marketing, shipping, logistics and finance, and developing freight services in partnership with our clients, to create customized solutions to often complex and time-sensitive shipping needs, with the utmost regard to ethical practices, environmental sustainability and our stakeholders.

Corporate Governance

The Macsteel Group 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, with consideration for sustainability and its stakeholders.

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 selection of executive and non-executive directors is based on their business acumen, skills and experience, and they are responsible for the strategy of the Group. The various businesses are run by well-appointed executive committees with a decentralised approach.

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

SIR MICHAEL DAVIS

INDEPENDENT NON-EXECUTIVE DIRECTOR OF MACSTEEL GLOBAL LTD (CHAIRPERSON)

Mick is Chairperson and Non-Executive Director of Macsteel Global Ltd, he is also Chairperson and CEO of Vision Blue Resources (VBR), an investment company building a diversified portfolio of clean energy metal and mineral investments. He is also an investor, director and advisor to other companies that are investments of VBR as well as in the financial services and technology sectors.

He stepped down as CEO of Xstrata plc in 2013, one of the world's largest global diversified mining and metals companies that he grew in a 10-year period from a market value of USD500 million to USD60 billion, employing more than 90,000 people and operating in over 22 countries.

Previously, Mick was an Executive Director and Chief Financial Officer of Billiton plc and Chairman of Billiton Coal. Prior to joining Billiton, Mick was an Executive Director of South African state-owned Eskom, one of the world's largest electricity utilities.

Mick has extensive capital markets and corporate transactions experience. During his career, he has raised almost USD40 billion from global capital markets and successfully completed over USD120 billion of corporate transactions. Some of his successes are the creation of the Ingwe Coal Corporation in South Africa; the listing of Billiton on the London Stock Exchange; the merger of BHP and Billiton into the largest diversified mining company in the world; the initial public offering of Xstrata plc on the London Stock Exchange in 2002 and Xstrata’s subsequent acquisitions of MIM Holdings and Falconbridge Ltd, amongst others and most recently the successful merger of Xstrata and Glencore.

Mick is a past President of the Council of Members and Chairman of the Board of Trustees of the Jewish Leadership Council of the United Kingdom, the umbrella body of the largest Jewish charities and institutions in the United Kingdom responsible for the strategic imperatives of UK Jewry. He was Chairman of the Prime Minister’s Holocaust Commission of the United Kingdom. Mick is also currently a member of the Board of the Institute for National Security Studies of Israel. Mick was knighted in 2015.

STEVEN COHEN

EXECUTIVE DIRECTOR OF MACSTEEL GLOBAL LTD (DEPUTY CHAIRPERSON / CEO)

Steven obtained his Bachelor of Science in Building Science from Wits University and later earned an MBA from UCT University. He has maintained a strong association with the Macsteel Group for nearly 30 years, holding a variety of executive positions. His roles have included serving as Managing Director of the Cape Town division of Macsteel Service Centres SA (Pty) Ltd in 2007 and joining the Group Board in 2011.

Currently, Steven serves as a Trustee for several Trust entities within the Group, where he oversees the various international charitable foundations and the family offices. He broadened his involvement in 2015 by joining Macsteel Global Sarl BV and Macsteel Holdings Luxembourg Sarl. In January 2018, he was appointed Chief Strategy Officer for Macsteel International USA Corp, and soon after, assumed the role of CEO and Deputy Chairman for Macsteel Global Sarl BV.

As from 1 March 2023, Steven has taken on additional responsibilities, including serving as Deputy Chairperson of Macsteel Service Centres SA (Pty) Ltd, Chairperson of MUR Shipping Holdings Ltd, Chairperson of Macsteel International Trading Holdings Ltd, CEO and Deputy Chairperson of Macsteel Global Ltd. The three group business units - MURSH Ltd, MITH Ltd and MSCSA - report directly to Steven.

LOUIS VAN NIEKERK

NON-EXECUTIVE DIRECTOR OF MACSTEEL GLOBAL LTD

A Chartered Accountant CA(SA) with a Masters degree in Commerce, Louis joined the Macsteel Group in 2009. He was appointed as an Executive Director and Chairperson of Macsteel International Holdings BV (MIHBV) in 2012. Until 2022, he was Executive Deputy Chairman of Macsteel Global Sarl BV and Macsteel Holdings Luxembourg Sarl, Group CEO and Chairman of the Board of MIHBV and Board Member of Macsteel International Trading Holdings BV, MUR Group BV and Macsteel Service Centres SA (Pty) Ltd (MSCSA). As from 1 March 2023, Louis became a Non-Executive Director of Macsteel Global Ltd and serves as a Non-Executive Director on the Boards of Macsteel International Trading Holdings Ltd, MUR Shipping Holdings Ltd and MSCSA.

Louis has many years of extensive management and business experience, particularly in the steel industry, and vast project management experience in major capital projects. Between 1976 and 1991, he held several senior management and financial positions at various leading industrial groups in South Africa. Between 1991 to 2004, he was the Executive Finance Director and CEO at Iscor Ltd, now ArcelorMittal South Africa Ltd.

MICHAEL HONIBALL

EXECUTIVE DIRECTOR OF MACSTEEL GLOBAL LTD

Michael Honiball is an Executive Director of Macsteel Global Limited, appointed as the Chief Legal Officer of the Macsteel Group. He is a practising solicitor of England and Wales, an attorney of the High Court of South Africa, a registered tax practitioner, and a professor of practice in taxation at the University of Johannesburg. He is also a member of the following professional bodies: the South African Institute of Tax Practitioners (SAIT), the Society of Trust and Estate Practitioners, the International Academy of Estate and Tax Law, the Law Society of England and Wales, and the Legal Practice Council of South Africa.

Michael is also a SAIT Master Tax Practitioner (SA) and Chartered Tax Advisor (SA). Michael has a Bachelor of Arts degree and a Bachelor of Law degree from the University of Stellenbosch, a Masters of Law degree, a Post-Graduate Diploma in Tax Law, and a Post-Graduate Diploma in Corporate Law from RAU. Michael has had many years of experience as a lawyer in practice and in managing professional services teams, and also has fiduciary roles and responsibilities for various entities within the Group, as well as for other entities in a wide range of industries.

FRANKI COHEN

EXECUTIVE DIRECTOR OF MACSTEEL GLOBAL LTD

Franki Cohen holds a Bachelor of Arts (BA) and a Bachelor of Laws (LLB) from the University of the Witwatersrand, Johannesburg, South Africa. She served as a Director at De Abreu & Cohen Inc Attorneys, Cape Town, until 2001, at which time she was appointed as a Director of Macsteel Service Centres SA (Pty) Ltd and to Macsteel's Global Board of Directors in 2006. From 2017 to 2022, Franki served as a Director of Macsteel Holdings Luxembourg Sarl and Macsteel Global Sarl BV. Effective December 2022, Franki was appointed as a Director on the Board of Macsteel Global Ltd, MUR Shipping Holdings Ltd (MURSH Ltd) and Macsteel International Trading Ltd (MITH Ltd) as well as a member of the various Executive Management Committees for MURSH Ltd and MITH Ltd.

Franki remains an active member of philanthropic trusts worldwide, dedicated to upholding her late father's values and improving the well-being of those in need, socially, educationally, and medically. She focuses on empowering students through scholarships and collaborates with others to address local and global social issues. Her efforts embody her father's legacy, fostering positive change globally.

MICHAEL HOFFMAN

NON-EXECUTIVE DIRECTOR OF MACSTEEL GLOBAL LTD

Graduate of the University of Cape Town and Chartered Accountant CA (SA), Michael Hoffman joined Macsteel Service Centres SA (Pty) Ltd (MSCSA) on 1 July 1983. He became a director of Macsteel Global Sarl BV from 1 January 1991 to 20 December 2022 and was appointed to the Macsteel Global Ltd Board on 31 December 2022. He is also an Executive Committee Member of Macsteel International Trading Holdings Ltd, MUR Shipping Ltd and MSCSA. During his career, Michael served as CEO of MSCSA and Macsteel Service Centres USA Corporation (MSCUSA), as well as Executive Deputy Chairperson of Iskoor (Israel).

During his tenure, he was involved in the merger and acquisition activities of the Group, including the successful disposal of MSCUSA and Iskoor, as well as the many capital projects undertaken during his 35-year plus career.