Klöckner & Co has agreed to acquire National Material of Mexico, a leading independent service center and materials supplier serving automotive and industrial end markets in North America with ten facilities throughout Mexico. The transaction is made through Klöckner & Co’s U.S. subsidiary, Kloeckner Metals Corporation. The acquisition will significantly expand KMC’s footprint in Mexico, enabling the company to increase its presence where the key automotive and industrial customers are located. The parties have agreed on a consideration of USD 340 million on a cash and debt-free basis.
Courtesy of Klöckner & Co.