Steel Products
Kloeckner Expands with Purchase of National Material of Mexico
Written by Laura Miller
August 1, 2023
Service center group National Material of Mexico (NMM) is now a part of Germany’s Klöckner & Co. group of companies.
After receiving approval from antitrust authorities, Klöckner’s US subsidiary Kloeckner Metals Corp. completed the purchase of NMM’s 10 facilities located throughout Mexico.
The acquisition allows Kloeckner “to significantly expand its footprint in Mexico and increase its presence where the key automotive and industrial customers are located,” parent company Klöckner said in a press release.
Additionally, Kloeckner customers will now be able to better access electrical steel, the company noted.
NMM specializes in the processing of hot rolled, cold rolled, grain-oriented and non-oriented electrical steels, galvanized, galvannealed, aluminized, prepainted, and other coated metals, serving the automotive, HVAC, home appliance, and motor and transformer industries.
The acquisition of NMM increases Kloeckner’s presence in North America to include 56 locations and around 2,600 employees.
Through the acquisition, “we will further strengthen our position as a leading distributor for steel and metal products and as a steel service company in North America in the long term. From now on, our customers will benefit from an even larger product and service portfolio,” commented Klöckner CEO Guido Kerkhoff.
Laura Miller
Read more from Laura MillerLatest in Steel Products
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
CRU tariff webinar replay now available
CRU’s latest webinar replay on how Trump’s tariffs affect the global steel market is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. You’ll find not only this special CRU webinar but also all past Community […]
US, offshore CRC prices diverge
US cold-rolled (CR) coil prices declined this week, slipping for the first time since early February. Most offshore markets deviated, moving higher this week.
Construction growth slowed in March on tariff woes: Dodge
The decline comes after reaching a record high in January to kickstart the year.
Return of S232 zapped gap between US and EU HR prices, Asian HR remains cheaper
Domestic hot-rolled (HR) coil prices declined this week for a third straight week. Most offshore markets bucked the trend and gained ground. Uncertainty in the US market around tariffs, especially after “Liberation Day,” caused US prices to slip as buyers moved to the sidelines. It’s unclear to date whether the 90-day pause on the more […]