Bekaert acquires 100 % of TWIL Limited shares

On 27 March 1997, Bekaert and British Steel signed an agreement whereby Bekaert buys British Steel’s 40 % shareholding in the TWIL Group, bringing Bekaert’s shareholding in TWIL to 100 %.

Bekaert is the leading worldwide manufacturer of steel wire, steel wire products and steel cord, headquartered in Belgium and listed on the Brussels stock exchange, with 65 manufacturing plants spread over 21 different countries. Combined sales of consolidated companies and participating interests was BEF 77.2 billion in 1996 representing a sales volume of 1,650,000 tonnes of steel wire, steel wire products and steel cord.

British Steel is Europe’s largest steel producer and the third largest in the world, homebased in the United Kingdom, with an annual turnover of GBP 8 billion and employing more than 53,000 people worldwide.

The TWIL Group is Britain’s largest manufacturer of steel wire and steel wire products with production plants at Sheffield, Spennymoor, Glenrothes, Warrington and Wigan in the United Kingdom, at Dublin in Ireland, and at Hemiksem in Belgium. Total sales in 1996 amounted to GBP 250 million, representing a sales volume of 360,000 tonnes. The TWIL Group is well advanced with a GBP 33 million investment programme at its UK factories, aimed at rationalising and modernising the plants and increasing quality and productivity, which will be completed by the end of 1997.

The acquisition of 100 % of TWIL Limited will enable Bekaert to unlock the benefits of the integration of TWIL as a full member of the Bekaert Group.

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