Contact
QR code for the current URL

Press release Box-ID: 849610

NV Bekaert SA Bekaertstraat 2 8550 Zwevegem, Belgium http://www.bekaert.com
Contact Ms Katelijn Bohez +32 56 23 05 71
Company logo of NV Bekaert SA
NV Bekaert SA

Bekaert and ArcelorMittal extend their partnership in Brazil

(PresseBox) ( Kortrijk, )
Bekaert and ArcelorMittal have reached an agreement on the integration of Bekaert's currently whollyowned subsidiary in Sumaré (Brazil) into the BMB (Belgo Mineira Bekaert Artefatos de Arame Ltda) partnership.

In line with the shareholding structure of the BMB joint venture, ArcelorMittal will be the majority shareholder (55.5%) of the steel cord entity in Sumaré and Bekaert will hold the remaining shares (44.5%).

The transaction is subject to customary closing conditions and is expected to be completed in the second quarter of 2017.

Both partners aim at a smooth transition process to ensure continued excellent supply and service to the customers.

Bekaert will, upon deal closing, no longer report the results of the Sumaré plant in its consolidated statements but represent its share in the result of joint ventures.

Disclaimer

The foregoing release may contain forward-looking statements regarding the impact of the transaction on the financial statements of Bekaert. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Bekaert is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise. Bekaert disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by Bekaert.

NV Bekaert SA

Bekaert (www.bekaert.com) is a world market and technology leader in steel wire transformation and coating technologies. We pursue to be the preferred supplier for our steel wire products and solutions by continuously delivering superior value to our customers worldwide. Bekaert (Euronext Brussels: BEKB) is a global company with almost 30 000 employees worldwide, headquarters in Belgium and € 4.4 billion in annual revenue.

Bekaert-ArcelorMittal joint ventures in Brazil:

Bekaert and ArcelorMittal currently operate 8 plants in Brazil through joint venture partnerships in which ArcelorMittal holds a majority share: Belgo Bekaert Arames Ltda (45/55%) includes steel wire product facilities in Contagem, Osasco, Sabará, Hortolândia and Feira de Santana. Belgo Minera Bekaert Artefatos de Arame Ltda (44.5/55.5%) includes the steel cord manufacturing plants of Itaúna and Vespasiano.

The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.
Important note:

Systematic data storage as well as the use of even parts of this database are only permitted with the written consent of unn | UNITED NEWS NETWORK GmbH.

unn | UNITED NEWS NETWORK GmbH 2002–2022, All rights reserved

The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.