Bekaert has reached a final agreement with three Belgian project developers about the sale of the Bekaert site in Hemiksem, Belgium. The consortium will reconvert the 25 hectares (62 acres) large site into a residential and green zone area.
Bekaert Hemiksem ceased its production activities in 2009. The proceeds of the sale (net cash impact of € 23 million) and the reversal of the outstanding provision for soil remediation (€ 13 million) will be booked as one-off revenues (€ 36 million) in Bekaert’s income statement when the notary deed will be drawn up, which is planned in October 2020.
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