Klöckner & Co, a German-based steel and metal distributor, completed the acquisition of National Material of Mexico, an independent service center and materials supplier serving automotive and industrial end markets, for $340m. “The acquisition of National Material of Mexico is of major strategic importance for us, demonstrating our focus on sustainable growth. It will strengthen our position as a leading distributor for steel and metal products and as a steel service company in North America. Going forward, we will be able to provide our customers in the growing and attractive market of Mexico directly with a greatly extended product and service portfolio," Guido Kerkhoff, Klöckner & Co CEO.