The transaction agreement was signed in December 2022 and was executed through Klöckner's US subsidiary Kloeckner Metals Corporation.
The acquisition of NMM, which has 10 facilities across Mexico, allows Klöckner to increase its exposure to the region and its key automotive and industrial customers.
The move is in line with Klöckner's 2025 Strategy, which aims to grow its product and service portfolio in North America.
Kloeckner & Co will merge NMM under the Kloeckner Metals brand, and the combined company will have a broad presence in all relevant regions in the US and Mexico, with 56 facilities and 2,600 employees. In addition, its customers will have better access to electrical steel for renewable energy investments and to meet the growing demand for e-mobility in North America.