Bekaert and ArcelorMittal have closed the transaction to integrate Bekaert’s formerly wholly-owned 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 has become the majority shareholder (55.5%) of the steel cord entity in Sumaré and Bekaert retains the remaining shares (44.5%).
With this transaction, Bekaert and ArcelorMittal extend their partnership in Brazil with the purpose to leverage the operational scale and technological competences of the steel cord business in the country, for the benefit of the customers.
Impact on the financial results
In line with the shareholding structure of the BMB joint venture, ArcelorMittal has become the majority shareholder (55.5%) of the steel cord entity in Sumaré and Bekaert retains the remaining shares (44.5%).
With this transaction, Bekaert and ArcelorMittal extend their partnership in Brazil with the purpose to leverage the operational scale and technological competences of the steel cord business in the country, for the benefit of the customers.
Impact on the financial results
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