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Klöckner & Co SE

Klöckner & Co AG plans to transform into a European Company (SE)

Duisburg (euro adhoc) -

  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
companies
Duisburg, September 20, 2007 - The
Supervisory Board and the Board of Management of Klöckner & Co AG 
have resolved to propose a transformation from an Aktiengesellschaft 
(AG - German stock corporation) into a European public 
limited-liability company (SE - Societas Europaea) at the Company´s 
Annual General Meeting next year.
The intended legal form reflects the international position and 
orientation of the Klöckner & Co Group: Klöckner & Co is represented 
in 15 countries with over 250 locations and generated roughly 75% of 
its sales outside of Germany in the first half of 2007. Including 
Germany, approximately 85% of the total sales was generated in 
Europe. "The primary objective of the transformation into an SE is to
evolve the historically grown, country-oriented organization into a 
European organization, and thus to better and more efficiently 
utilize the possibilities of the common market than has been done up 
till now," explained Dr. Thomas Ludwig, Chairman of the Board of 
Management of Klöckner & Co AG.
The Company´s headquarters will remain in Duisburg, Germany. Besides,
no further changes within the group are associated with the 
transformation. The two-tier model of a supervisory board and a board
of management shall be continued. Preparations for the formation of a
special negotiating body - responsible for the negotiations 
concerning the future involvement of employees in the SE - have 
begun. The objective is to conclude the negotiations before the next 
Annual General Meeting.
The shareholders of Klöckner & Co AG will automatically become 
shareholders of Klöckner & Co SE once the transformation comes into 
force. No impact - also with regard to taxes - will arise for 
shareholders from the change of the legal form.
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 20.09.2007 13:18:18

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

Original content of: Klöckner & Co SE, transmitted by news aktuell

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