Klöckner strategy keyed to boost US profits

Nov 07, 2013 | 04:32 PM | Corinna Petry

Tags  Klockner & Co. SE, Klockner Metals Corp., metals distributor, Americas unit, U.S. sales strategy, margin expansion, cost-cutting, restructuring sales volume

CHICAGO — Although Klöckner & Co. SE will remain in a cost-cutting mode through the end of 2013, including at U.S. subsidiary Kloeckner Metals Corp., it expects to improve profits in the region by revising its U.S. sales strategy. Thirty-eight percent of the parent company’s global sales come from the United States.

Klöckner’s Americas segment reported sales of €594 million ($797.7 million) during the third quarter, down 14.9 percent from the same period a year ago, but earnings before interest, taxes, depreciation and amortization (Ebitda) after restructuring expenses grew 41.7 percent in the same comparison.....

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