EANS-News: Klöckner & Co SE intends to acquire Macsteel Service Centers USA

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Mergers - Acquisitions - Takeovers/Planned acquisition

Duisburg (euro adhoc) - Duisburg/ Germany, January 19, 2011 - The
Boards of Klöckner & Co SE and Macsteel Global B.V. are very pleased
to announce that a Memorandum of Understanding (MOU) has been signed
for the acquisition of Macsteel Service Centers USA ("MSCUSA") by a
US subsidiary of Klöckner & Co SE (Klöckner USA Holdings). The
effective date of the transaction is planned to be the 1ST of January
2011 and the final agreement is expected to be signed and closed in
the beginning of the second quarter 2011. The transaction will be
subject to the approval of the Board of Directors of both Parties as
well as the Supervisory Board of Klöckner & Co SE and the antitrust
authorities.

Gisbert Rühl, Chairman of the Executive Board of Klöckner & Co SE:
"This acquisition would be an excellent strategic combination that
will provide a platform for our future growth in North America. With
the acquisition of Macsteel Service Centers USA, we would more than
double our sales in the US, expand our geographical coverage and our
product portfolio significantly. With that, we would expect to become
one of the top 3 players in the US steel distribution and Service
Center industry with a meaningful spread of carbon steel products."

Eric Samson will remain as the non-executive Co-Chairman of MSCUSA
and join the Board of Klöckner USA Holdings, in a non-executive
capacity. Michael Hoffman will remain the President and CEO of
MSCUSA, will also join the Board of Klöckner USA Holdings in an
executive capacity and is intended to become CEO of the combined
business. Bill Partalis will continue in his capacity as CEO of
Namasco Corp. and will become President of the combined US-business.

About Macsteel: Macsteel Service Centers USA is one of the top 10
companies in the North American metals Service Center Industry. The
company has a network of 30 locations, which includes the former
Edgcomb Metals, Regal Steel Company, Baldwin Steel, Ferro Union,
Hokin Katz and Alpha Steel, all of which now operate as Macsteel
Service Centers USA. Macsteel Service Centers USA processes and
distributes carbon, stainless, aluminum and specialty metals to
customers throughout North America, Hawaii and Puerto Rico. Products
include a full range of flat rolled, plate, tubing, pipe, bar and
structural steel with 2010 sales of approximately USD1.3bn and 1,183
employees. The company also supplies a full range of steel building
products as well as coated and prepainted metals. Macsteel Service
Centers USA is headquartered in Newport Beach, CA and is owned by
Macsteel Global B.V., a Macsteel Holdings Group Company, which itself
manages annual sales volumes of approximately 45 million tons.

About Klöckner & Co: Klöckner & Co is the largest
producer-independent 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 178,000 active customers are supplied
through around 250 distribution locations by around 9,500 employees
in 15 countries in Europe and North America. During the fiscal year
2009, the Company achieved sales of approximately EUR3.9bn.

The shares of Klöckner & Co SE are admitted to trading on the
regulated market segment (Regulierter Markt) of the Frankfurt Stock
Exchange (Frankfurter Wertpapierbörse) with simultaneous admission to
the sub-segment to the regulated market with further post-admission
obligations (Prime Standard). Klöckner & Co shares are listed in the
MDAX® Index of Deutsche Börse. ISIN: DE000KC01000; WKN: KC0100;
Common Code: 025808576.

end of announcement euro adhoc
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ots Originaltext: Klöckner & Co SE
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Dr. Thilo Theilen - Spokesperson
Head of Investor Relations & Corporate Communications
Phone: +49 (0) 203-307-2050
Fax: +49 (0) 203-307-5025
E-Mail: thilo.theilen@kloeckner.de

Branche: Metal Goods & Engineering
ISIN: DE000KC01000
WKN: KC0100
Index: CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade