September 06, 2008

Klöckner & Co to acquire Multitube Ltd in UK

Klöckner & Co AG’s UK based company Klöckner UK Holdings Ltd is taking over the distribution company Multitube Ltd, which is headquartered at Brierley Hill in West Midlands of UK.

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 EUR 5 million with its 16 employees.

Dr. Thomas Ludwig, CEO of Klöckner & Co AG said “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.

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.

This is now the third acquisition to be made in the UK over the last seven months.