Worthington Steel to purchase steel distributor Kloeckner

Klöckner aims to become the leading metal processor and service centre company in the economically strong regions of North America and Europe by 2030 – together with Worthington Steel, this goal is getting closer.
Image: Klöckner & Co.

The US company Worthington Steel is offering $2.4 billion for the Düsseldorf-based steel distributor Klöckner & Co.

“The combination with Worthington Steel would mark a pivotal step toward a stronger focus on higher value-added products and services. Together, we are building a strong foundation for sustainable growth, expanding our respective presences, and offering our customers an even broader product portfolio”, says Guido Kerkhoff, CEO of Klöckner & Co.
Geoff G. Gilmore, CEO of Worthington Steel, adds: “Klöckner & Co brings a strong market presence in Europe and North America, an innovative product portfolio, and long-standing customer relationships. These strengths complement our own capabilities in an ideal way. Together, we are poised to sustainably enhance our offerings and accelerate our growth strategy.”
Klöckner & Co. has around 110 locations in North America and Europe. Its products include carbon flat steel, electrical steel, aluminium, stainless steel and long products. According to the company, it has completed its transition to high-value processing and manufacturing in recent years through mergers and acquisitions as well as growth initiatives. The company's headquarters for its European business will remain in Düsseldorf.
According to Worthington Steel, the takeover bid is expected to be completed in the second half of 2026.
Source: Klöckner & Co.