Klöckner & Co Finalizes Sale of Four European Divisions to Hierros Añon S.A.

Klöckner & Co has announced the completion of its sale of country organizations in France, the United Kingdom, the Netherlands, and Belgium to Spanish firm Hierros Añon S.A. The transaction was finalized on March 7, 2024, reflecting the company's strategic shift towards prioritizing higher value-added business segments and reducing its involvement in the volatile, low-margin commodity distribution sector. This move is part of Klöckner & Co's broader strategy to optimize its portfolio and concentrate future growth efforts on its core markets in Germany, Austria, Switzerland, and North America.

Initially announced on December 22, 2023, the sale aligns with Klöckner & Co's focus on enhancing offerings in processing and fabrication services within its customer value chain, which promise steadier demand and improved profitability. CEO Guido Kerkhoff emphasized that the completion marks a significant milestone in the company's portfolio optimization journey. Post-transaction, Klöckner & Co expects to generate over half of its Group sales from the North American market, with the divested units previously accounting for 20% of the workforce and 10% of Group sales.