The management of Belgo Mineira Bekaert Artefatos de Arame Ltda (BMB), a 55.5/44.5% joint venture of ArcelorMittal and Bekaert, have announced their expansion plans for the Itaúna plant in Minas Gerais, Brazil.
In order to further strengthen their leading position in the Latin American market and to drive manufacturing excellence in the rubber reinforcement activities, BMB will install half product capacity and become a fully integrated manufacturing entity. In addition, 35% tire cord production capacity will be added to enable BMB to grow their current market share in the region. The USD 33 million investment will be spread over three years and includes construction and infrastructure works and the installation of machines designed and assembled by Bekaert Engineering. The expansion program will add some 200 direct and indirect jobs in the region.
Press Release in PDF
ArcelorMittal and Bekaert: partners in Brazil
Bekaert and ArcelorMittal operate their steel wire manufacturing plants in Brazil through partnerships in which ArcelorMittal holds a majority share. Belgo Bekaert Arames Ltda (BBA: 55% ArcelorMittal / 45% Bekaert) includes the steel wire production entities in Contagem (MG), Sabará (MG), Osasco (SP), Hortolândia (SP) and Feira de Santana (BA). Belgo Mineira Bekaert Artefatos de Arame Ltda (BMB: 55.5%/44.5%) includes the steel cord production plants of Itaúna (MG), Vespasiano (MG) and Sumaré (SP).
About Bekaert
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 € 4.8 billion in annual revenue.
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.
In order to further strengthen their leading position in the Latin American market and to drive manufacturing excellence in the rubber reinforcement activities, BMB will install half product capacity and become a fully integrated manufacturing entity. In addition, 35% tire cord production capacity will be added to enable BMB to grow their current market share in the region. The USD 33 million investment will be spread over three years and includes construction and infrastructure works and the installation of machines designed and assembled by Bekaert Engineering. The expansion program will add some 200 direct and indirect jobs in the region.
Press Release in PDF
ArcelorMittal and Bekaert: partners in Brazil
Bekaert and ArcelorMittal operate their steel wire manufacturing plants in Brazil through partnerships in which ArcelorMittal holds a majority share. Belgo Bekaert Arames Ltda (BBA: 55% ArcelorMittal / 45% Bekaert) includes the steel wire production entities in Contagem (MG), Sabará (MG), Osasco (SP), Hortolândia (SP) and Feira de Santana (BA). Belgo Mineira Bekaert Artefatos de Arame Ltda (BMB: 55.5%/44.5%) includes the steel cord production plants of Itaúna (MG), Vespasiano (MG) and Sumaré (SP).
About Bekaert
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 € 4.8 billion in annual revenue.
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.