Klöckner looks for investors to expand to Asia

Klöckner & Co is looking for investors from Europe and Asia to expand its operations to Asia, says ceo Gisbert Rühl.

“Our efforts in that direction will increase in the second half of the year,” Rühl noted during a conference call on Wednesday attended by Kallanish. “After our presence in the US and Brazil, we want to expand to Asia and this requires financial resources.” There is already interest from different investors and the company expects to have results in the next months, he added.

Last year Klöckner received an acquisition proposal from UK-headquartered steel trader Apollo/Swoctem, but a real proposition never materialised. The company does not expect any future development in that matter for the moment.

Klöckner continues to implement the Surtsey project, which is focused on accelerating the company’s digital transformation and fostering restructuring initiatives.

Digital sales share increased considerably to 45% of overall sales in the fourth quarter of 2020. Digitalisation and further optimisation measures associated with Surtsey should contribute over €100 million ($119m) to earnings by the end of 2021.

Klöckner is well on track to generate over 60% of sales via digital channels in 2022, Rühl said.

Svetoslav Abrossimov Bulgaria