October 25, 2017 / 8:49 AM / in 8 months

Kloeckner & Co CEO says Thyssenkrupp Materials would be good fit

FRANKFURT, Oct 25 (Reuters) - German steel distributor Kloeckner & Co sees Thyssenkrupp’s material services unit as a good strategic fit, its chief executive said, but cautioned any potential purchase of the business would not be easy.

“The unit is twice as big compared to our company,” Gisbert Ruehl told journalists on Wednesday, adding Kloeckner & Co had not been approached by Thyssenkrupp about the matter.

Asked about the planned steel merger of Thyssenkrupp and Tata Steel, the group’s two biggest suppliers of flat steel, Ruehl said that any form of consolidation was good for the sector.

“We expect our good working relationship to continue going forward,” he said. (Reporting by Christoph Steitz)

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