Germany-based Klöckner & Co. has announced that it has acquired German stainless steel service centers Hernandez Stainless GmbH and RSC Rostfrei Coilcenter GmbH. Both acquisitions have been made through the company’s German subsidiary Becker Stahl-Service.
The acquisitions mark Becker’s entry into stainless steel processing in a significant extension to its product and service portfolio as Hernandez and RSC supply around 400 customers across Europe. Hernandez provides surface machining and stocks stainless flat products. RSC is specialized in stainless steel coil cutting. The parties have agreed not to disclose the purchase prices for either company.
The two companies are expected to be included in the consolidated financial statements from the beginning of the third quarter of 2022. The transactions remain subject to approval by the competition authorities.