Brief: Kloeckner & Co Sells Four European Country Organizations

Kloeckner & Co SE

07/03/2024 13:35

March 7 (Reuters) - KLOECKNER & CO SE  KCOGn.DE :
    * SUCCESSFULLY COMPLETES SALE OF FOUR EUROPEAN COUNTRY
ORGANIZATIONS
    * SALE OF COUNTRY ORGANIZATIONS IN FRANCE, UNITED KINGDOM,
NETHERLANDS AND BELGIUM TO HIERROS AÑON S.A.
    * MAJOR MILESTONE IN PORTFOLIO OPTIMIZATION, WITH FUTURE
GROWTH
FOCUSED ON GERMANY, AUSTRIA, SWITZERLAND, AND NORTH AMERICA
    * CLOSED SALE SIGNIFICANTLY REDUCES COMPANY'S EXPOSURE TO
VOLATILE
LOW-MARGIN COMMODITY MARKETS
    * MOST RECENTLY SOLD EUROPEAN UNITS ACCOUNTED FOR AROUND 20%
OF
KLÖCKNER & CO GROUP'S WORKFORCE AND 10% OF ITS SALES
    * AS A RESULT, KLÖCKNER & CO WILL FROM NOW ON GENERATE WELL
OVER
50% OF GROUP SALES IN NORTH AMERICA

Source text for Eikon:  ID:nEQ8yWGjPa 
Further company coverage:  KCOGn.DE 

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