Download 47057 Duisburg

Klöckner & Co AG
Am Silberpalais 1
47057 Duisburg, Germany
Press Release
Telephone: +49 (0) 203 - 2289
Fax: +49 (0) 203 307 - 5103
E-mail: [email protected]
Internet: www.kloeckner.de
Date
April 4, 2008
Pages
2
Klöckner & Co - acquisition of Temtco Steel in the US
 Second large acquisition closed by the company in the US
 Acquisition of a leading distributor of specialty plate products
Duisburg, April 4, 2008 – Via its US operating subsidiary – Namasco Corporation
headquartered in Atlanta, Georgia – Klöckner & Co AG has entered into an agreement
to acquire the operating assets of the distribution company Taylor Equipment and
Machine Tool Corporation (dba Temtco Steel), headquartered in Louisville, Mississippi.
The acquisition is still subject to the approval of the American anti-trust authorities.
Temtco Steel is a leading distribution company for specialty plate with a large share of
processing. Temtco Steel employs some 180 staff in 5 locations in the USA and
generated sales of approximately €226 million in 2007. The high strength quenched &
tempered steels, wear resistant steels and security steels have broad areas of
application such as energy and heavy equipment industries, as well as the mining and
transportation sectors.
After the acquisition of Primary Steel last year, a company which also has a focus on
specialty plate, Klöckner & Co, through Namasco Corporation, continues to expand its
market position for specialty plate and strengthens its presence in the North American
steel and distribution market.
"With sales of approximately €226 million, Temtco Steel is just like Primary Steel,
another larger distribution company in the North American market, which we acquired
in 2007. The Temtco Steel acquisition not only strengthens our market presence, but
also facilitates our expansion of our product portfolio in the area of high-grade specialty
plates with a large share of processing,“ commented Dr. Thomas Ludwig, Chairman of
the Klöckner & Co AG Management Board.
About Klöckner & Co AG:
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 210,000 active customers are supplied through more than 260
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distribution locations in 15 countries in Europe and North America. During the financial
year 2007, the Company achieved sales of approximately €6.3 billion with more than
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 are listed in the MDax®
Index of Deutsche Börse.
Contact persons:
Klöckner & Co AG
Am Silberpalais 1
47057 Duisburg, Germany
Peter Ringsleben, Claudia Uhlendorf – Corporate Communications
Peter Ringsleben
Phone: +49-203-307-2800
Fax: +49-203-307-5060
E-mail: [email protected]
Claudia Uhlendorf
Phone: +49-203-307-2289
Fax: +49-203-307-5103
E-mail: [email protected]
Claudia Nickolaus - Investor Relations
Claudia Nickolaus
Phone: +49-203-307-2050
Fax: +49-203-307-5025
E-Mail: [email protected]
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