04.03.2014
Klöckner & Co. SE DE000KC01000
DGAP-News: Klöckner & Co acquires majority of Swiss reinforcing steel specialist Riedo Bau + Stahl AG
DGAP-News: Klöckner & Co. SE / Key word(s): Acquisition
Klöckner & Co acquires majority of Swiss reinforcing steel specialist
Riedo Bau + Stahl AG
04.03.2014 / 15:21
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- First acquisition since successful completion of restructuring
- Important step in strengthening the business with value-added
processing
- Strengthening of leading market position in the attractive Swiss
market for reinforcing steel
Duisburg, Gemany, March 04, 2014 - Klöckner & Co SE has purchased a 75%
stake in the Swiss reinforcing steel specialist Riedo Bau + Stahl AG via
its Swiss country organization Debrunner Koenig Holding AG. The plan is to
acquire Riedo Bau + Stahl AG in full within the next two years.
Riedo specializes in the professional processing of reinforcing steel and
also offers a wide range of accessories. Operating in three locations with
a workforce of 180, this highly profitable company generated sales of
almost EUR140 million last year.
"The acquisition of Riedo strengthens our leading market position in the
attractive Swiss market for reinforcing steel. It is also an important step
in implementing our long-term growth strategy "Klöckner & Co 2020", which
focuses among other things on acquiring highly profitable companies with
higher value-added processing," said Gisbert Rühl, CEO of Klöckner & Co SE.
The ability to utilize Riedo's state-of-the-art sites will also enable
savings on necessary investments in the lower to medium double-digit
million euro range, as well as leveraging substantial synergies. The
acquisition will have an immediate positive impact on earnings and is not
expected to incur any notable integration costs.
The transaction is still subject to normal closing conditions but has
already been approved, with a different transaction structure, by the Swiss
Competition Commission. The modified transaction structure will be
subsequently reported to the Competition Commission and is not likely to
change the approval decision. Riedo will be most likely consolidated in the
beginning of the 2nd quarter 2014.
About Riedo Bau + Stahl AG:
Operating from three locations with a workforce of around 180, Riedo Bau +
Stahl AG produces and sells reinforcing steel for customers in Switzerland.
It specializes in the processing of concrete reinforcing steel for the
construction industry. In the past fiscal year, Riedo Bau + Stahl AG
generated sales of almost EUR140 million.
About Debrunner Koenig Group:
Operating from 30 locations with a workforce of more than 1,700, the
Debrunner Koenig Group is a leading distribution and service company in
Switzerland. It covers a broad portfolio of B2B products and services for
construction, trade and industry and offers a diverse range of higher
value-added processing on the basis of its flexible service centers.
About Klöckner & Co:
Klöckner & Co is the largest producer-independent distributor of steel and
metal products and one of the leading steel service center companies in the
European and American markets combined. The core business of the Klöckner &
Co Group is the warehousing and distribution of steel and non-ferrous
metals as well as the operation of steel service centers. Based on the
Group's distribution and service network, more than 160,000 customers are
supplied through around 230 locations in 15 countries. Currently Klöckner &
Co employs around 9,800 employees. The Group had sales of around EUR7.4
billion in the fiscal year 2012.
The shares of Klöckner & Co SE are admitted to trading on the regulated
market segment (Regulierter Markt) of the Frankfurt Stock Exchange
(Frankfurter Wertpapierbörse) with further post-admission obligations
(Prime Standard). Klöckner & Co shares are listed in the MDAX(R)-Index of
Deutsche Börse.
ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576.
Contact person:
Christian Pokropp - Press Spokesperson
Head of Investor Relations & Corporate Communications
Telephone: +49 (0) 203-307-2050
Fax: +49 (0) 203-307-5025
Email: [email protected]
End of Corporate News
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04.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Klöckner & Co. SE
Am Silberpalais 1
47057 Duisburg
Germany
Phone: +49 (0)203 / 307-0
Fax: +49 (0)203 / 307-5000
E-mail: [email protected]
Internet: www.kloeckner.com
ISIN: DE000KC01000
WKN: KC0100
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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