Klöckner & Co continues acquisitions in the UK
Duisburg (euro adhoc) -
British country operation takes over Multitube Ltd. in Brierley Hill, West Midlands Acqusition strategy continues in fiscal year 2008
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merger, acquisition and takeover
Duisburg - January 23, 2008. Klöckner & Co AG is continuing on its growth course in 2008. Klöckner UK Holdings Ltd., the British country operation of Klöckner & Co AG, is taking over the distribution company Multitube Ltd. which is headquartered in Brierley Hill, West Midlands (UK). This is now the third acquisition to be made in the UK over the last seven months.
Multitube specializes in distributing and processing welded tubes that are used in many industrial sectors, such as the furniture industry. In 2007, the company generated sales of around EUR5 million with its 16 employees.
"This first acquisition in fiscal year 2008 enables Klöckner & Co to further expand its very strong market position in the UK. Multitube is a specialist in the distribution of tubes and thus excellently complements the diversified range of its British country operation," explains Dr. Thomas Ludwig, CEO of Klöckner & Co AG.
Klöckner UK operates in steel and metal distribution in the UK under the name ASD Metal Services. The company has 40 business units at around 30 sites in the UK and employs approximately 1,200 employees.
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 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: peter.ringsleben@kloeckner.de
Claudia Uhlendorf Phone: +49-203-307-2289 Fax: +49-203-307-5103 E-mail: claudia.uhlendorf@kloeckner.de
Claudia Nickolaus - Investor Relations
Claudia Nickolaus Phone: +49-203-307-2050 Fax: +49-203-307-5025 E-Mail: claudia.nickolaus@kloeckner.de
end of announcement euro adhoc
Further inquiry note:
Claudia Uhlendorf
Telefon: +49 (0)203-307-2289
E-Mail: claudia.uhlendorf@kloeckner.de
Branche: Metal Goods & Engineering
ISIN: DE000KC01000
WKN: KC0100
Index: MDAX, CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
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