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Jan. 9, 2013
Klöckner Divesting European Operations
Klöckner & Co., one of the world's largest distribution companies, is selling its entire Eastern European operation as part of a restructuring program. Klöckner is the parent company of Kloeckner Metals, the third-largest service center company in the Metal Center News Top 50.
During the first phase of the restructuring, Klöckner sold its operations in the Czech Republic, Bulgaria and Romania. Those entities made up more than two-thirds of the company’s operations in Eastern Europe.
The company expects to complete sales of its operating activities in Poland and Lithuania during the first quarter. Altogether, Klöckner's Eastern European operations generated sales of an estimated $132 million annually.
"We are making faster progress than expected in implementing our restructuring program in which a total of 60 sites will be closed or sold and the workforce reduced by 1,800 employees," says Gisbert Rühl, chairman of the management board of Klöckner & Co. By the end of the third quarter, the company had already closed 20 sites and cut 800 jobs.
The buyers for the Eastern European operations are local companies that will carry on as independent organizations.
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2013 Directory of Master Distributors
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The Metal Center News Directory of Master Distributors—distributors who sell to other distributors—is an invaluable tool for service centers seeking new sources for special or hard-to-find products. Master distributors play an important role in the marketplace, giving service centers an alternative to buying in mill quantities and helping to remove redundant and excess inventories from the distribution channel.
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