Klöckner & Co strengthens its activities in the United Kingdom and in Switzerland
Duisburg (euro adhoc) -
The UK subsidiary acquires Interpipe (UK) Ltd., one of the UKs leading distributors of special steel hollow sections for the construction sector The Swiss subsidiary signs a purchase agreement for the full product range supplier Lehner & Tonossi SA The goal of up to twelve acquisitions in 2007 has been achieved in nine months
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merger, acquisition and takeover
Duisburg, September 26, 2007 - Klöckner & Co AG has acquired two further steel and metal distributors in Europe: the British company Interpipe (UK) Ltd. and the company Lehner & Tonossi SA in Switzerland. These represent the eleventh and twelfth acquisitions by Klöckner & Co AG in financial year 2007. "Thus, we have achieved the goal of up to twelve acquisitions in this financial year within just nine months", explained Dr. Thomas Ludwig, CEO of Klöckner & Co AG.
Klöckner UK Holdings Ltd., the British subsidiary of Klöckner & Co Aktiengesellschaft, has concluded a purchase agreement to buy Interpipe (UK) Ltd., based in Dudley, England. As a result, the Klöckner & Co Group further improves its extensive product and service offer to the structural steelwork market in the UK.
Interpipe specialises in the supply of hollow sections to specialist tubular fabrication companies as well as to steelwork and general engineering businesses. In 2006 the company generated sales of around EUR 14 million with its 22 employees.
"The construction industry in the UK is characterised by a disproportionately heavy usage of steel. With the acquisition of Interpipe, following our purchase of Westok, we have once again expanded our offer of special products to the construction sector and consolidated our position as the leading supplier of construction-related steel in the UK", elaborated Dr. Thomas Ludwig.
Klöckner UK mainly trades under the name ASD Metal Services in the UK. In over 40 business units operating across 30 sites in the UK, Klöckner UK employs around 1200 people.
On 1 October 2007, Debrunner Koenig Holding AG - the Swiss subsidiary of Klöckner & Co Aktiengesellschaft - will assume the activities of Lehner & Tonossi SA in Sierre, Switzerland.
With 27 employees, the distributor Lehner & Tonossi SA is a full product range supplier focusing on the steel, fastening engineering, tool and building engineering sectors. Principal customers are companies in the primary and secondary construction trades. In 2006, Lehner & Tonossi generated sales of about EUR 9 million.
With the acquisition of Lehner & Tonossi we further extend our market position in Western Switzerland", explained Dr. Thomas Ludwig.
Debrunner Koenig Holding AG, with its subsidiaries Debrunner Acifer, Koenig Feinstahl, Koenig Verbindungstechnik and Alu Menziken and more than 1700 employees, is one the leading distributors in Switzerland in the multi metal distribution, reinforcement and construction engineering, technical product and fastening engineering sectors.
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. Klöckner & Co shares have been listed in the MDax® Index of Deutsche Börse since the end of January 2007. ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576.
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 26.09.2007 08:34:07
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
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Original content of: Klöckner & Co SE, transmitted by news aktuell