FRENCH NATIONAL COMPANY OF KLÖCKNER & CO ACQUIRES TARGE S.A.

The French Klöckner & Co subsidiary Klöckner Distribution Industrielle S.A. (KDI) has acquired the French company Targe S.A., an independent steel service centre located near Lyon. The principal activity of Targe S.A. is processing and distribution of steel flat products. The company employs some 40 staff, and its sales in 2004 totalled 25.5 million euros.

KDI, with over 70 locations and over 2,500 employees, is one of the largest subsidiaries of the Klöckner & Co Group. With the acquisition of Targe S.A., KDI will expand its range of products and services as multi metal distributor, and further strengthen its market position in the south-east of France.

Klöckner & Co GmbH is one of the leading companies worldwide in the stockholding multi metal distribution business. The corporation is represented in Europe and North America with over 250 locations and Klöckner & Co has about 10,000 employees worldwide.