Bekaert expands in North America

Bekaert Corporation and Contours Inc. announced today the signing of a 50/50 joint venture agreement for the development, manufacture and sale of flat and shaped steel wires.

Contours, Inc. based in Orrville, Ohio, is a technology based manufacturer of flat and shaped steel wires. Its products are sold to a variety of manufacturers across a broad spectrum of industries and products. Founded in 1970 the company, which is currently owned and operated by Mr. Lowell Steinbrenner and family, is producing some 30,000 tons of products per year representing a turnover of USD 35 million and has over 200 employees.

Bekaert Corporation is a wholly owned subsidiary of N.V. Bekaert S.A., the parent company of the Bekaert Group located in Belgium and quoted on the Brussels Stock Exchange. The Group is a worldwide leader in steel wire, steel wire products, steel cord and various advanced materials, with 68 production centers in 23 countries around the world representing a turnover in 1997 of BEF 97 billion (USD 3.2 billion).

The new joint venture, to be called Contours Ltd., will take over the existing activities of Contours Inc. and will combine the strengths of both partners. Contours, Inc. is a leader in the USA in the development and manufacture of flat and shaped steel wire. Combined with Bekaert’s state-of-the-art drawing and coating technology of steel wires, the joint-venture ambition is to expand the existing product range of Contours, Inc. and market the products worldwide making use of the global reach of the Bekaert organization.

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