Sale of Canadian subsidiary Namasco Ltd. concluded
Duisburg (euro adhoc) -
Announced transaction is completed Intensified focus on core business
ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
companies/Sale
Duisburg - July 9, 2008 - Klöckner & Co concluded the sale of its Canadian subsidiary Namasco Ltd. to Samuel, Son & Co. Ltd. yesterday. The sale has been approved by Canadian antitrust officials.
The primary business of Namasco Ltd. is processing flat-rolled metal products for the North American automotive industry. The focus on OEM-accounts in automotive is not one of the core businesses at Klöckner & Co Group.
"By divesting ourselves of Namasco Ltd., we are focusing on our strengths. Particularly since we acquired the U.S. companies Primary Steel and Temtco Steel, we have become one of the leading providers of high-quality heavy plates in North America," says Dr. Thomas Ludwig, CEO of Klöckner & Co AG.
About Klöckner & Co: 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 distribution locations in 15 countries in Europe and North America. During the financial year 2007, the Company achieved sales of approximately EUR6.3 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.
end of announcement euro adhoc
Further inquiry note:
Contact persons:
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
Phone: +49-203-307-2050
Fax: +49-203-307-5025
E-Mail: claudia.nickolaus@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
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade