FRANKFURT, April 26 German steel distributor
Kloeckner & Co would more likely profit than lose
from any new steel anti-dumping measures that the United States
may impose, its chief executive said on Wednesday.
"We are more likely to be positively affected by U.S.
tariffs than negatively," Gisbert Ruehl told reporters on a
conference call after Kloeckner reported first-quarter results
and said it expected a noticeable improvement in core profit
Ruehl said Kloeckner mainly sources and sells locally in the
United States, importing only 7 percent, and would benefit from
higher prices. The United States accounts for about 40 percent
of Kloeckner's business.
Ruehl said it was hard to predict the exact effect on
Kloeckner if cheap steel imports flowed to Europe instead of the
United States. He said: "If that happened we would be balanced."
(Reporting by Georgina Prodhan)