Bekaert sets up a new company for filter systems

N.V. Bekaert S.A. has decided to set up a new company under the name of :

"N.V. Bekaert Fibre Processing Systems" (BFPS).

The new company, a 100% subsidiary of N.V. Bekaert S.A., will temporarily be based at the "Bedrijvencentrum Regio Kortrijk" business centre in Wevelgem. BFPS will begin its activities as soon as the company has been formed and the required permits have been granted, which will probably be in mid-1999. During the initial stage the company will employ four people, but by the end of this year the number of employees will have doubled at least.

The aim of BFPS is the development, production and sales of shaved Bekinit® fibres and Bekinit® fibre products, as well as the development, production and sales of new types of filtration elements, mainly intended for micro-filtration applications.

The technologies which will be used by the new company include the shaving of fine metal fibres, needling of fibre webs and production of fine welded Bekicross® filter elements.

The shaved Bekinit® fibres, which are mostly made of heat-resistant and highly corrosion-resistant materials are used, among other things, in magnetic separation and in substrates for catalytic converters.

Markets for the new types of filter elements are mainly in the chemical sector, biochemistry and the food industry.

Mr. Pol Huystentruyt, General Manager of the "Bekaert Fibre Technology" business unit, made the following comment on the setting up of this new company : "Splitting off finished products from filter media semifinished goods into a separate company makes it possible to better focus our market approach. It also provides a platform for growth through take-overs or joint ventures in the specialised filtration business."

Mr. Guy Haemers, Corporate Vice-President of "Bekaert Advanced Materials" adds: "This new company provides further evidence that hard work is being done on growth at Bekaert, based on the core competences available within the Group. The focus here is on growing and promising market segments and advanced products with considerable added value which can guarantee a high level of profitability."

N.V. Bekaert S.A., parent company of the Bekaert Group, with headquarters in Kortrijk (Belgium) is a company quoted on the Brussels Stock Exchange. It is a leading global producer of steel wire, steel wire products, steel cord and various advanced materials. The Group has 68 production units in 23 countries and its total turnover in 1997 amounted to EUR 2.4 billion.