October 11, 2008
Klöckner & Co strengthens its activities in the UK and in Switzerland
Klöckner & Co AG has acquired two further steel and metal distributors in Europe: the British company Interpipe (UK) Ltd and the company Lehner & Tonossi SA in Switzerland. These represent the eleventh and twelfth acquisitions by Klöckner & Co AG in financial year 2007.
Mr Thomas Ludwig CEO of Klöckner & Co AG “Thus, we have achieved the goal of up to twelve acquisitions in this financial year within just nine months.”
British subsidiary of Klöckner & Co Aktiengesellschaft, Klöckner UK Holdings Ltd has concluded a purchase agreement to buy Interpipe (UK) Ltd, based at Dudley in England. As a result, the Klöckner & Co Group further improves its extensive product and service offer to the structural steelwork market in the UK.
Interpipe specializes in the supply of hollow sections to specialist tubular fabrication companies as well as to steelwork and general engineering businesses. In 2006 the company generated sales of around EUR 14 million with its 22 employees.
Mr Ludwig said that "The construction industry in the UK is characterised by a disproportionately heavy usage of steel. With the acquisition of Interpipe, following our purchase of Westok, we have once again expanded our offer of special products to the construction sector and consolidated our position as the leading supplier of construction related steel in the UK."
Klöckner UK mainly trades under the name ASD Metal Services in the UK. In over 40 business units operating across 30 sites in the UK and employs around 1200 people.
Klöckner & Co AG Swiss subsidiary Debrunner Koenig Holding AG on October 1st 2007, will assume the activities of Lehner & Tonossi SA at Sierre in Switzerland. With 27 employees, the distributor Lehner & Tonossi SA is a full product range supplier focusing on the steel, fastening engineering, tool and building engineering sectors. Principal customers are companies in the primary and secondary construction trades. In 2006, Lehner & Tonossi generated sales of about EUR 9 million.
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.
