Please find enclosed a press release concerning an agreement on the intented sale of Bekaert's Industrial Coatings activities.
Summary:
Bekaert and Element Partners, a Pennsylvania, US-based equity fund, signed an agreement today regarding the sale of Bekaert's Industrial Coatings activities to Element Partners. The transaction covers the production facilities in Deinze (Belgium) and Jiangyin (China), the maintenance activity at Spring Green (US), and the respective sales organization. The deal involves all 130 employees currently working in the Industrial Coatings platform. Later today, Element Partners also plans to sign for the acquisition of Soleras Ltd., a US-based company.