Steel distribution group Klöckner & Co is making progress with the sale of its unit Becker Group and is shortlisting candidates for a takeover, Kallanish observes.
The divestment process for Becker Group, which was announced in January “is proceeding as planned,” Klöckner has said while announcing its quarterly results.
It says that several non-binding offers were received after 31 March, and that the prospective buyers are currently in the due diligence phase.
Becker Group consists of steel service centre Becker Stahl and Becker Aluminium-Service in Bönen, as well as Becker Stainless in southern Germany, and Umformtechnik Stendal in eastern Germany.
Becker Stahl is Germany’s largest steel service centre with a capacity to handle 1 million tonnes/year of coil/strip. It was sold by its founder and then managing owner Ulrich Lollert to Klöckner around 16 years ago.
The intention of selling Becker was announced at the same time as the takeover move by US group Worthington Steel became known. Klöckner did not say if the two moves are related, or if the divestment of Becker was part of the negotiations with Worthington.
Market sources believe this to be the case, with Worthington reportedly interested in Klöckner’s successful US operations.
Author: Christian Koehl
