Columbus

Worthington Steel plans to buy Germany’s Kloeckner & Co in a deal that values the metals trading firm at $2.4 billion, as the company looks to strengthen its position in North America.

Kloeckner & Co, which operates out of about 110 sites across North America and Europe, offers carbon flat-roll steel, electrical steel, and aluminum, among other products.

The combination would create the second-largest steel service center company in North America with combined revenues of more than $9.5 billion.

In 2023, Worthington Industries split into two companies. One became Worthington Enterprises and included the company’s building products, consumer products and sustainable energy solutions business. The other company, Worthington Steel, is the company’s steel processing business.

Worthington Enterprises on Jan. 16 announced completion of its planned acquisition of LSI Group, of Logansport, Indiana. LSI is one of the largest manufacturers of standing-seam metal roof clips and retrofit components in the commercial metal roof market.

Worthington Steel – Worthington Steel to Acquire Kloeckner & Co