FRENCH COUNTRY OPERATION OF KLÖCKNER & CO TAKES OVER TOURNIER
- Acquisition in France
- Resolute continuation of growth strategy in the year 2007
The French Klöckner & Co subsidiary Klöckner Distribution Industrielle S.A. (KDI) concluded a contract for the acquisition of the French distribution company Tournier Holding SAS. The company consists of a mill-independent steel service center near Paris and an additional warehouse location in Nantes. With about 41 employees, Tournier Holding SAS is mainly active in the preprocessing and marketing of flat steel products, and achieved sales of some € 35 million in 2005.
"With the acquisition of Tournier Holding SAS we are now strengthening our market position in the flat steel sector in France even further, following the purchase of the flat steel specialist Targe in the spring of 2006. We are also very pleased to have concluded our first acquisition of 2007 so early in the year. We will continue in the resolute pursuit of our growth strategy," Dr. Thomas Ludwig, Chairman of the Management Board of Klöckner & Co AG, explained.
The French country operation KDI, with about 80 locations and some 2,500 employees, is one of the largest subsidiaries of the Klöckner & Co Group.