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Namasco Corporation, the US subsidiary of Klöckner & Co AG, acquires
the steel distribution business of ScanSteel Service Centers
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ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
the content of this announcement.
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merger, acquisition and takeover
Duisburg (euro adhoc) - Duisburg, September 21, 2007 - Namasco
Corporation, the US subsidiary of Klöckner & Co AG, has signed an
agreement to acquire the steel distribution business of ScanSteel
Service Center Inc., of Jeffersonville, Indiana, USA.
ScanSteel presents an ideal enhancement to the distributor Action
Steel, also from Indiana and acquired last year, strengthening the
competitive position of Namacso in the Midwest of the US. With 17
employees, ScanSteel specializes in the distribution and
prefabrication of pipes, flat steel and construction steel. In 2006
ScanSteel generated approx. EUR 7.0 million in sales. The full
product range supplier delivers to a broad range of customers of the
construction, plant and machinery manufacturing as well as
agricultural sectors.
"The acquisition of ScanSteel makes it clear that we are driving the
regional consolidation. Having expanded our distribution network to
Indiana through the acquisition of Action Steel, the targeted
expansion of our regional presence is achieved by this acquisition of
ScanSteel. Altogether, we now have 30 warehouses available in North
America," explains Dr. Thomas Ludwig, Chairman of the Board of
Management of Klöckner & Co AG.
About Klöckner & Co AG:
Klöckner & Co is the largest independent producer and distributor of
steel and metal products in the European and North American markets
combined. The core business of the Klöckner & Co Group is the storage
and distribution of steel and non-ferrous metals. About 200,000
active customers are supplied through approximately 250 distribution
locations in 15 countries in Europe and North America.
Klöckner & Co was founded more than 100 years ago by Peter Klöckner.
During the financial year 2006, the Company achieved sales of
approximately EUR5.5 billion with around 10,000 employees.
The shares of Klöckner & Co Aktiengesellschaft are admitted to
trading on the official market segment (Amtlicher Markt) of the
Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with
simultaneous admission to the sub-segment (Prime Standard) to the
official market with further post-admission obligations. ISIN:
DE000KC01000; WKN: KC0100; Common Code: 025808576. Klöckner & Co
shares have been listed in the MDax® Index of Deutsche Börse since
the end of January 2007.
Contact person:
Peter Ringsleben, Claudia Uhlendorf - Corporate Communications
Klöckner & Co AG
Am Silberpalais 1
47057 Duisburg, Germany
Peter Ringsleben
Phone: +49-203-307-2800
Fax: +49-203-307-5060
E-mail: peter.ringsleben@kloeckner.de
Claudia Uhlendorf
Phone: +49-203-307-2289
Fax: +49-203-307-5103
E-mail: claudia.uhlendorf@kloeckner.de
end of announcement euro adhoc 21.09.2007 07:59:01
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ots Originaltext: Klöckner & Co AG
Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note:
Nadine Hagemus
Telefon: +49(0)203-307-2288
E-Mail: nadine.hagemus@kloeckner.de
Branche: Metal Goods & Engineering
ISIN: DE000KC01000
WKN: KC0100
Index: CDAX, Classic All Share, Prime All Share, MDAX
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade
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