Worthington Steel plans to take over steel trader Klöckner

The US company Worthington Steel is offering $2.4 billion for the Düsseldorf-based steel company Klöckner & Co.

“The merger with Worthington Steel would mark a decisive step in our focus on higher-value products and services,” says Guido Kerkhoff, CEO of Klöckner & Co.
Geoff G. Gilmore, CEO of Worthington Steel, adds: “Klöckner & Co brings an impressive market presence in Europe and North America, an innovative product portfolio and long-standing customer relationships. These strengths complement our own profile perfectly. Together, we are in a position to expand our offering sustainably and accelerate our growth strategy.”
Klöckner & Co. has around 110 sites in North America and Europe. The products on offer include carbon flat steel, electrical steel, aluminium, stainless steel and long products. According to the company, it has, in recent years, completed the transition to high-quality processing and manufacturing through mergers and acquisitions as well as growth initiatives. The company’s headquarters for its European operations is to remain in Düsseldorf.
According to Worthington Steel, the aim is to finalise the takeover bid in the second half of 2026.
Source: Klöckner & Co.