Klöckner & Co announced that it has concluded the sale of its Canadian subsidiary Namasco Ltd to Samuel, Son & Co Ltd. The sale has been approved by Canadian antitrust officials.

The primary business of Namasco Ltd is processing flat rolled metal products for the North American automotive industry. The focus on OEM-accounts in automotive is not one of the core businesses at Klöckner & Co Group.

Dr Thomas Ludwig CEO of Klöckner & Co AG said that "By divesting ourselves of Namasco Ltd, we are focusing on our strengths. Particularly since we acquired the US companies Primary Steel and Temtco Steel, we have become one of the leading providers of high quality heavy plates in North America.”