Service center group National Material of Mexico (NMM) is now a part of Germany’s Klöckner & Co. group of companies.
After receiving approval from antitrust authorities, Klöckner’s US subsidiary Kloeckner Metals Corp. completed the purchase of NMM’s 10 facilities located throughout Mexico.
The acquisition allows Kloeckner “to significantly expand its footprint in Mexico and increase its presence where the key automotive and industrial customers are located,” parent company Klöckner said in a press release.
Additionally, Kloeckner customers will now be able to better access electrical steel, the company noted.
NMM specializes in the processing of hot rolled, cold rolled, grain-oriented and non-oriented electrical steels, galvanized, galvannealed, aluminized, prepainted, and other coated metals, serving the automotive, HVAC, home appliance, and motor and transformer industries.
The acquisition of NMM increases Kloeckner’s presence in North America to include 56 locations and around 2,600 employees.
Through the acquisition, “we will further strengthen our position as a leading distributor for steel and metal products and as a steel service company in North America in the long term. From now on, our customers will benefit from an even larger product and service portfolio,” commented Klöckner CEO Guido Kerkhoff.
Laura MillerRead more from Laura Miller
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