KLÖCKNER & CO SELLS SPANISH ACTIVITIES TO HIERROS AÑON
Duisburg, Germany, January 27, 2017 – As part of the One Europe strategy to further concentrate on its core markets, Klöckner & Co SE sells its Spanish activities to Hierros Añon S.A. based in A Coruña, Spain. An agreement on the sale and purchase of Klöckner & Co’s Spanish subsidiaries including the operating business unit, Kloeckner Metals Ibérica S.A., has been signed by the two companies. The closing of the transaction took place today. With its approximately 350-strong workforce, the Kloeckner Metals Ibérica Group generated sales of €120 million in the past fiscal year, accounting for roughly 2% of Klöckner & Co Group sales. The Kloeckner Metals Ibérica Group’s earnings before taxes (EBT) was most recently negative due to the continued difficult economic environment in Spain. Net debt of Klöckner & Co is expected to come down significantly by the expected cash inflow from the sale.
Gisbert Rühl, CEO of Klöckner & Co SE: “As part of our One Europe program we focus more and more on our core markets to improve our profitability. With the sale of our business in Spain we are consequently implementing this strategy.”
About Kloeckner Metals Ibérica:
Kloeckner Metals Ibérica is a specialist for iron, steel and aluminum products in Spain. Alongside procurement, stockholding and logistics, the Group also provides a wide range of processing services. With 24 distribution and service centers in Spain and shipments totaling some 180,000 tons a year, the Group generated sales of €120 million in 2016. Kloeckner Metals Ibérica currently has a workforce of approximately 350.
About Klöckner & Co:
Klöckner & Co is one of the largest producer-independent distributors of steel and metal products and one of the leading steel service center companies worldwide. Based on its distribution and service network of around 180 locations in 13 countries, the Group supplies more than 140,000 customers. In addition to companies in the construction industry as well as machinery and mechanical engineering, Klöckner & Co serves customers in the automotive and chemical industry, in shipbuilding and in fields of household appliances, consumer goods and energy. Currently Klöckner & Co has around 8,700 employees. The Group had sales of around €6.4 billion in fiscal 2015.
The shares of Klöckner & Co SE are admitted to trading on the regulated market segment (Regulierter Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with further post-admission obligations (Prime Standard). Klöckner & Co shares are listed in the SDAX®-Index of Deutsche Börse.
ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576.
Contact person Klöckner & Co SE:
Christian Pokropp – Press Spokesperson
Head of Investor Relations & Corporate Communications
Phone: +49 203 3072050
Fax: +49 203 3075025