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Klöckner & Co SE has signed a preliminary agreement for the acquisition of the Becker Stahl-Service Group with headquarters in Bönen, Germany. The transaction will be subject to approval by the antitrust authorities.
The Becker Stahl-Service Group operates one of the largest and most modern steel service centers in the world. The group has around 460 employees and generated sales of about €600 million in the 2008/2009 fiscal year ending September 30, 2009. The proposed acquisition is subject to the due diligence which has yet to be conducted. It is expected that the final purchase agreement will be concluded in the beginning of 2010.
Becker Stahl-Service is one of the largest steel service center companies in Europe. By acquiring the Becker Stahl-Service Group, Klöckner & Co is strengthening its leading market position in Germany and Western Europe. The transaction will also complement its product and service portfolio and enhance the sector mix of the supplied customer groups.