Kloeckner acquires American Fabricators

Frankfurt, Germany-based steel distributor Kloeckner & Co. has announced its acquisition of American Fabricators, Nashville, Tenn.

Kloeckner, trying to combat the effect of persistently low steel prices mainly caused by overproduction in China, is aiming to invest in higher-value products and services.

"Having expanded our service center activities in the U.S. to a significant degree, we are now entering the higher value-added segment of sheet metal fabrication," said Chief Executive Gisbert Ruehl.