History

1970 With the foreign division’s conversion to a product-management system, this business segment develops into an international steel trading company.
The structure of the Klöckner & Co Group is streamlined based on the options stipulated in the Reorganization Act (Umwandlungsgesetz): the total number of subsidiaries is reduced to 30.

1972 The Company name Klöckner Eisenhandel (Klöckner Iron Trading), a name with a long tradition, is changed to Klöckner Stahlhandel (Klöckner Steel Trading). At the same time, the product line is expanded to include high-grade structural steel, bright steel and stainless steel.

1976 Dr. Dr. h.c. Günter Henle retires from the Company after 40 years as Senior Partner. His responsibilities are assumed by his sons, Jörg Alexander and Christian-Peter Henle.

1977 Corporate management functions are reorganized, with the Group concentrating on the five corporate management units - Steel, the Central Office for International Business, Raw Materials/Transportation, Building Materials/Fuels/Chemicals and the Engineering and Industrial Plants segment.

1981 Seventy-five years after it was established, Klöckner & Co is one of Germany’s major trading and service companies. It has approximately 10,000 employees. The Company is represented in 80 countries around the world by 200 agents, representative offices and wholly owned subsidiaries.

1988 The “International Crude Oil and Oil Products Trading” Department runs up losses of between 600 and 700 million Deutsche Marks through risky speculation in crude-oil futures contracts.
Deutsche Bank AG becomes the sole shareholder of Klöckner & Co. The Company is converted into an Aktiengesellschaft (public limited corporation/joint-stock company). Christian-Peter Henle retires from the Company’s management team.

1989 The VIAG Group acquires Klöckner & Co from Deutsche Bank, thereby becoming the Company’s new shareholder.