German metals distributor Klöckner & Co. AG has further expanded its presence in the North American steel market with the acquisition of Shreveport, Louisiana-based Premier Steel Inc.
Through its US subsidiary Namasco Corp.(based in Roswell near Atlanta, Georgia), Klöckner purchased steel service center Premier Steel in a deal that closed last week. This purchase follows Namasco's previously announced acquisition of flat rolled steel distributor Primary Steel, which closed on May 11, 2007.
Klöckner told the press that, with Namasco's acquisition of Premier Steel, it is now among the top ten metals distribution companies in North America.
Premier Steel offers a wide range of steel and metal products with a diverse customer base which includes clients in the fields of energy, telecommunications, forestry, general manufacturing and fabrication. It employs 34 people and had sales of US$30 million in 2006.