KLÖCKNER & CO ACQUIRES MAJORITY OF SWISS REINFORCING STEEL SPECIALIST RIEDO BAU + STAHL AG

Duisburg, Germany, March 04, 2014 – Via its Swiss country organization, Debrunner Koenig Holding AG, St. Gallen, Klöckner & Co has purchased 75% of the Swiss reinforcing steel specialist Riedo Bau + Stahl AG. The share purchase contract concluded today provides for the company to be acquired in full within two years. Operating from three locations with a workforce of around 180, Riedo Bau + Stahl AG produces and sells reinforcing steel for customers in Switzerland. The company generated sales of just under €140 million in 2013. The transaction is still subject to normal closing conditions but has already been approved, with a different transaction structure, by the Swiss Competition Commission. The modified transaction structure will be subsequently reported to the Competition Commission and is not likely to change the approval decision.