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Via its US operating subsidiary – Namasco Corporation headquartered in Atlanta, Georgia – Klöckner & Co AG has entered into an agreement to acquire the operating assets of the distribution company Taylor Equipment and Machine Tool Corporation (dba Temtco Steel), headquartered in Louisville, Mississippi. The acquisition is still subject to the approval of the American anti-trust authorities. Temtco Steel is a leading distribution company for specialty plate with a large share of processing. Temtco Steel employs some 180 staff in 5 locations in the US and generated sales of approximately €226 million in 2007.
After the acquisition of Primary Steel last year, a company which also has a focus on specialty plate, Klöckner & Co, through Namasco Corporation, continues to expand its market position for specialty plate and strengthens its presence in the North American steel and distribution market.