Duisburg Germany headquartered leading independent service center & materials supplier Klöckner & Co has agreed to acquire leading independent service center and materials supplier serving automotive and industrial end markets in North America National Material of Mexico. The transaction is made through Klöckner & Co’s US subsidiary, Kloeckner Metals Corporation. The parties have agreed on a consideration of USD 340 million on a cash and debt free basis. Established in 1999, National Material of Mexico is a leading independent service center and supplier of carbon and electrical steel, aluminum and stainless steel, serving automotive and industrial end markets in North America. Headquartered in Monterrey, National Material of Mexico operates ten facilities throughout Mexico. The company offers processing capabilities that include slitting, cut-to-length, leveling, multi-blanking, configured blanking and core processing. Upon closing of the transaction, National Material of Mexico will be positioned under the Kloeckner Metals brand. The acquisition will significantly expand KMC’s footprint in Mexico, enabling the company to increase its presence where the key automotive and industrial customers are located.