KLÖCKNER & CO CONTINUES ACQUISITIONS IN THE UK
- British country operation takes over Multitube Ltd. in Brierley Hill, West Midlands
- Acqusition strategy continues in fiscal year 2008
Klöckner & Co AG is continuing on its growth course in 2008. Klöckner UK Holdings Ltd., the British country operation of Klöckner & Co AG, is taking over the distribution company Multitube Ltd. which is headquartered in Brierley Hill, West Midlands (UK). This is now the third acquisition to be made in the UK over the last seven months.
Multitube specializes in distributing and processing welded tubes that are used in many industrial sectors, such as the furniture industry. In 2007, the company generated sales of around €5 million with its 16 employees.
“This first acquisition in fiscal year 2008 enables Klöckner & Co to further expand its very strong market position in the UK. Multitube is a specialist in the distribution of tubes and thus excellently complements the diversified range of its British country operation,” explains Dr. Thomas Ludwig, CEO of Klöckner & Co AG.
Klöckner UK operates in steel and metal distribution in the UK under the name ASD Metal Services. The company has 40 business units at around 30 sites in the UK and employs approximately 1,200 employees.