EANS-News: Klöckner & Co sells Eastern European operations as part of its restructuring program

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Strategic management decisions

Duisburg (euro adhoc) - Duisburg, December 21, 2012 - As announced,
Klöckner & Co is selling its entire Eastern European operations as
part of its restructuring program. In the first phase of the
transaction, activities in the Czech Republic, Bulgaria and Romania,
which make up over two-thirds of Eastern European operations, were
sold. The sale of the remaining activities in Poland and Lithuania is
expected to be completed in the first quarter of 2013. Klöckner & Co
generates annual sales of some EUR100 million in Eastern Europe with
255 employees at 14 sites (around 1.4% of Group sales). The sale is
still partly subject to approval by the antitrust authorities. It has
been agreed not to disclose the purchase price. The buyers are local
competitors who will carry on the activities independently. Gisbert
Rühl, Chairman of the Management Board of Klöckner & Co SE: "We are
making faster progress than expected in implementing our
restructuring program, in which a total of 60 sites will be closed or
sold and the workforce reduced by 1,800 employees. The sale of the
Eastern European operations is another important milestone in it."
Klöckner & Co had recently significantly stepped up the restructuring
program as the economic outlook in Europe remains weak. By the end of
the third quarter, the Company had already closed 20 sites and cut
800 jobs.

About Klöckner & Co: Klöckner & Co is the largest
producer-independent distributor of steel and metal products and one
of the leading steel service center companies in the European and
American markets combined. The core business of Klöckner & Co is the
warehousing and distribution of steel and non-ferrous metals as well
as the operation of steel service centers. Based on the Group's
distribution and service network, more than 170,000 customers are
supplied through around 270 locations in more than 20 countries.
Currently Klöckner & Co employs around 11,000 employees. The Group
had sales of around EUR7.1 billion in fiscal 2011.

The shares of Klöckner & Co SE are admitted to trading on the
regulated market segment (Regulierter Markt) of the Frankfurt Stock
Exchange (Frankfurter Wertpapierbörse) with further post-admission
obligations (Prime Standard). Klöckner & Co shares are listed in the
MDAX®-Index of Deutsche Börse.

ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576.

Further inquiry note:
Dr. Thilo Theilen
Leiter Investor Relations & Corporate Communications
Telefon: +49 (0)203 307 2050
E-Mail: thilo.theilen@kloeckner.com

end of announcement euro adhoc
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company: Klöckner & Co SE
Am Silberpalais 1
D-47057 Duisburg
phone: +49(0)203-307-0
FAX: +49(0)203-307-5000
mail: info@kloeckner.de
WWW: http://www.kloeckner.de
sector: Metal Goods & Engineering
ISIN: DE000KC01000
indexes: CDAX, Classic All Share, Prime All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English