KLÖCKNER & CO MAKES ACQUISITION IN UNITED KINGDOM
- UK subsidiary acquires Westok Ltd, a major supplier of cellular beams to structural fabricators
- Already the eighth acquisition of Klöckner & Co AG in 2007
Klöckner & Co AG is continuing its growth in the UK: Klöckner UK Holdings Ltd., Klöckner & Co AG's holding company in the UK, has signed an agreement to buy Westok Ltd. based in Horbury, West Yorkshire. Thanks to this move, Klöckner & Co is expanding its already strong market position in the UK. The acquisition of Westok is the eighth acquistion of Klöckner & Co AG in fiscal year 2007.
Westok specialises in the manufacture and distribution of special steel sections, known as cellular beams, for floor and roof construction as well as bridges. With this specialist product, Westok serves a broad customer base in the UK's growing construction industry. In 2006, the company generated sales of around €26 million with 90 employees.
"Westok has outstanding competency in deploying steel girders in the construction industry and is excellently positioned and extremely successful in this area. With its innovative products and high service levels, this acquisition will supplement the broad offering of the UK company, expand its customer base and generate additional synergies," explained Dr. Thomas Ludwig, CEO of Klöckner & Co AG.
Klöckner UK predominately trades under the name ASD metal services. Together with a handful of niche businesses, this comprises 41 business units operating across 29 sites in the UK, and employs 1100 people.