The steel dealer Klöckner & Co sells eight US distribution locations.
Seven acquires Russel Metals and a Service Steel Warehouse. As a result, the share of sales from the higher-quality business and the service center business will increase by 5 percentage points to around 86 percent, said the company listed in the SDAX on Sunday. This strengthens the earnings profile by Klöckner & Co.
The agreed purchase price, the amount of which can still change, amounts to $ 119 million. This results in a book win of over 20 million euros, it said. By replacing capital from the distribution business into the higher-quality business and the service center business, Klöckner & Co will further reduce its dependence on volatile raw material markets.
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Düsseldorf (dpa-Afx)
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