Worthington Steel inks deal to buy Germany's Kloeckner, valued at $2.4B

Worthington Steel said on Friday it will acquire Germany-based metal distributor Kloeckner & Co. The deal would create the second-largest steel service center firm in North America with over $9.5 billion of combined revenue.

The Columbus, Ohio-based service center group said the offer price implies an enterprise value of $2.4 billion. Recall that Worthington first announced the possibility of the deal last month.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.