EANS-Adhoc: Klöckner & Co SE intends to acquire Macsteel Service Centers USA
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
Contracts/planned acquisition
19.01.2011
Duisburg/ Germany, January 19, 2011 - The Management Board of Klöckner & Co SE has signed a Memorandum of Understanding to acquire Macsteel Service Centers USA, Inc. ("Macsteel") from the seller Macsteel Global B.V.
With its 30 locations, Macsteel is one of the leading Service Center companies in the US. In 2010, Macsteel generated with its 1,183 employees sales of approx. USD1.3bn. The transaction will be subject to a successful due diligence, the approval by the Supervisory Board of Klöckner & Co SE and antitrust authorities. Signing and closing of the transaction is expected to be in the beginning of the 2nd quarter of 2011.
With the planned acquisition of Macsteel, Klöckner & Co SE will expand the product and service portfolio towards a higher margined Service Center business and strengthen its market position significantly by at least doubling its sales in the US.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Dr. Thilo Theilen
Leiter Investor Relations
Telefon: +49 (0)203 307 2050
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
Original content of: Klöckner & Co SE, transmitted by news aktuell