Kloeckner & Co. SE, Europe’s largest independent steel trader, said Interfer Holding GmbH increased its voting rights in the company.
Interfer Holding, based in Dortmund, Germany, increased its voting rights to 7.82 percent from less than 3 percent, according to a statement from Kloeckner today. Interfer, KIB Vermoegensverwaltungsgesellschaft mbH, KIH Vermoegensverwaltungsgesellschaft and Albrecht Knauf hold 7.82 percent as of today, according to the release.
Kloeckner Chief Executive Officer Gisbert Ruehl told Deutsches Anleger Fernsehen in January that the company’s earnings before interest, taxes, depreciation and amortization will rise to at least 190 million euros ($253.7 million) this year as cost cuts are taking effect. Ruehl sees “hope” for a recovery in demand starting in the second half and an increase in 2014, driven by China and the U.S., he told DAF.
To contact the reporter on this story: Julie Cruz in Frankfurt at email@example.com
To contact the editor responsible for this story: Angela Cullen at firstname.lastname@example.org