Service Centers
August 9, 2016
A.M. Castle Sells Share of Kreher Steel to Duferco
Written by Sandy Williams
A.M. Castle & Co., a specialty metals distributor, announced that it will sell its 50 percent joint venture ownership in Kreher Steel Business to partner Duferco. Duferco will become the 100 percent owner of Kreher in exchange for a purchase price of approximately $31.6 million. The transaction is expected to close August 22, 2016.
The sale will allow A.M. Castle to focus on its two key markets, industrial and aerospace, and allow Duferco to increase its exposure to the U.S. oil and gas market served by Kreher Steel.
