Klöckner & Co SE has purchased a 75% stake in the Swiss reinforcing steel specialist Riedo Bau + Stahl via its Swiss country organisation Debrunner Koenig Holding. The plan is to acquire Riedo Bau + Stahl in full within the next two years. Riedo specialises in the professional processing of reinforcing steel and offers a wide range of accessories. Operating in three locations with a workforce of 180, the company generated sales of almost EUR 140M last year.
“The acquisition of Riedo strengthens our leading market position in the attractive Swiss market for reinforcing steel. It is also an important step in implementing our long-term growth strategy ‘Klöckner & Co 2020’, which focuses among other things on acquiring highly profitable companies with higher value-added processing”, said Gisbert Rühl, CEO of Klöckner & Co SE. The ability to utilise Riedo’s sites will also enable savings on necessary investments in the lower to medium double-digit million-euro range, as well as leveraging substantial synergies. Riedo will be most likely consolidated in the beginning of the 2nd quarter 2014.
