Dutch country operation takes over special steel distributor Teuling Staal
Duisburg (euro adhoc) -
Acquisition in the Netherlands Diversification of the product range
ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
merger, acquisition and takeover
Duisburg, April 04, 2007 - The Dutch Klöckner & Co subsidiary ODS B.V. has concluded a contract for the acquisition of the Dutch distribution company Teuling Staal B.V. Teuling Staal specialises in the distribution of high-alloy special steels.
The companys product portfolio focuses on duplex and super-duplex steels. These high-alloy special steels are used for conduit piping in the oil and gas, chemical and petrochemical industries on account of their corrosion resistance. The distribution company Teuling Staal with some 16 employees has its head office at Barendrecht near Rotterdam. Specialising in special steels, the company achieved sales of some EUR 14 million in 2006.
With this acquisition the Dutch country operation ODS B.V. with its head office at Barendrecht will further expand its extensive product range. "Teuling Staal fits extremely well into our acquisition plan. The company is very well positioned in its special product niche, and its range of high-alloy special steels will outstandingly complement the products offered by our subsidiary in the Netherlands," said Dr. Thomas Ludwig, Chairman of the Board of Management of Klöckner & Co AG.
About Klöckner & Co:
Klöckner & Co is the largest producer-independent steel and metal distributor 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 240 distribution locations in 14 countries in Europe and North America. Klöckner & Co was founded more than100 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.
Contacts: Peter Ringsleben, Claudia Uhlendorf - Corporate Communications
Klöckner & Co AG Am Silberpalais 1 D - 47057 Duisburg
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 04.04.2007 18:11:25
Further inquiry note:
Claudia Uhlendorf
Public Relations
Telefon: +49(0)203-307-2289
E-Mail: claudia.uhlendorf@kloeckner.de
Branche: Metal Goods & Engineering
ISIN: DE000KC01000
WKN: KC0100
Index: CDAX, Classic All Share, Prime All Share, MDAX
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade