Being one of the leading companies of the world in the field of wire transformation and coating, Bekaert sold its Carding Business Unit activities providing carding solutions for short fibre, nonwoven, wool and worsted applications to Groz-Beckert. Sales agreement for the sales of Bekaert’s Carding Solutions activities to Groz-Beckert also covers carding production plants of the firm in Belgium, India, China and the USA as well as its sales points and agencies throughout the global market and company assets.
Carding Solutions activities which generate an income amounting to 26 million Euros annually constitute less than 1 % of the consolidated sales of Bekaert. It is expected that the agreement between Bekaert and Groz-Beckert will be completed in the second quarter of 2015. As a part of this transaction, the companies will sign a long term supply agreement to ensure that steel wires of Bekaert will be supplied to Groz-Beckert.
Bekaert Purchased Steel Cord Factory in Turkey
Bekaert and Pirelli completed the process for the sales of Steel Cord Factory of Pirelli in Turkey to Bekaert successfully. Bekaert bought all shares of Steel Cord Factory of Pirelli in İzmit. New name of the company is Bekaert Kartepe Çelik Kord San. ve Tic. A.Ş.
This agreement in Turkey was followed by share transfers in Pirelli’s steel cord factories located in Figline (Italy), Stalina (Romania) and Sumare (Brazil) announced on 18 December 2014. The agreement between Bekaert and Pirelli also covers the steel cord activities of Pirelli in Yanzhou (China). The sales process of the fifth factory will be completed after the necessary permissions are taken from the country. It is estimated that the consolidated sales incomes of Bekaert will increase 300 million Euros annually with the purchase process which started last year.