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Klöckner & Co SE

EANS-News: Klöckner & Co SE intends to acquire Macsteel Service Centers USA

Duisburg (euro adhoc) -

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Mergers - Acquisitions - Takeovers/Planned acquisition
Duisburg/ Germany, January 19, 2011 - The
Boards of Klöckner & Co SE and Macsteel Global B.V. are very pleased 
to announce that a Memorandum of Understanding (MOU) has been signed 
for the acquisition of Macsteel Service Centers USA ("MSCUSA") by a 
US subsidiary of Klöckner & Co SE (Klöckner USA Holdings). The 
effective date of the transaction is planned to be the 1ST of January
2011 and the final agreement is expected to be signed and closed in 
the beginning of the second quarter 2011. The transaction will be 
subject to the approval of the Board of Directors of both Parties as 
well as the Supervisory Board of Klöckner & Co SE and the antitrust 
authorities.
Gisbert Rühl, Chairman of the Executive Board of Klöckner & Co SE: 
"This acquisition would be an excellent strategic combination that 
will provide a platform for our future growth in North America. With 
the acquisition of Macsteel Service Centers USA, we would more than 
double our sales in the US, expand our geographical coverage and our 
product portfolio significantly. With that, we would expect to become
one of the top 3 players in the US steel distribution and Service 
Center industry with a meaningful spread of carbon steel products."
Eric Samson will remain as the non-executive Co-Chairman of MSCUSA 
and join the Board of Klöckner USA Holdings, in a non-executive 
capacity. Michael Hoffman will remain the President and CEO of 
MSCUSA, will also join the Board of Klöckner USA Holdings in an 
executive capacity and is intended to become CEO of the combined 
business. Bill Partalis will continue in his capacity as CEO of 
Namasco Corp. and will become President of the combined US-business.
About Macsteel: Macsteel Service Centers USA is one of the top 10 
companies in the North American metals Service Center Industry. The 
company has a network of 30 locations, which includes the former 
Edgcomb Metals, Regal Steel Company, Baldwin Steel, Ferro Union, 
Hokin Katz and Alpha Steel, all of which now operate as Macsteel 
Service Centers USA. Macsteel Service Centers USA processes and 
distributes carbon, stainless, aluminum and specialty metals to 
customers throughout North America, Hawaii and Puerto Rico. Products 
include a full range of flat rolled, plate, tubing, pipe, bar and 
structural steel with 2010 sales of approximately USD1.3bn and 1,183 
employees. The company also supplies a full range of steel building 
products as well as coated and prepainted metals. Macsteel Service 
Centers USA is headquartered in Newport Beach, CA and is owned by 
Macsteel Global B.V., a Macsteel Holdings Group Company, which itself
manages annual sales volumes of approximately 45 million tons.
About Klöckner & Co: Klöckner & Co is the largest 
producer-independent distributor of steel and metal products in the 
European and North American markets combined. The core business of 
the Klöckner & Co Group is the storage and distribution of steel and 
non-ferrous metals. About 178,000 active customers are supplied 
through around 250 distribution locations by around 9,500 employees 
in 15 countries in Europe and North America. During the fiscal year 
2009, the Company achieved sales of approximately EUR3.9bn.
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 simultaneous admission to
the sub-segment to the regulated market with further post-admission 
obligations (Prime Standard). Klöckner & Co shares are listed in the 
MDAX® Index of Deutsche Börse. ISIN: DE000KC01000; WKN: KC0100; 
Common Code: 025808576.
end of announcement                               euro adhoc

Further inquiry note:

Dr. Thilo Theilen - Spokesperson
Head of Investor Relations & Corporate Communications
Phone: +49 (0) 203-307-2050
Fax: +49 (0) 203-307-5025
E-Mail: thilo.theilen@kloeckner.de

Branche: Metal Goods & Engineering
ISIN: DE000KC01000
WKN: KC0100
Index: CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade

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