Bekaert acquires burner manufacturer

N.V. Bekaert S.A., parent company of the Bekaert Group, has acquired 51 % of the shares of Combustion Component Holding N.V. thus becoming an important producer of high quality and environmental friendly burners.

Combustion Component Holding N.V. has two 100 % subsidiaries, Furigas B.V. (Assen, Drente, NL) and Furigas Ltd UK (Rugby, Warwickshire, UK) and is the world leader in the production and sale of modulated burners, mainly based on thin metal fibres, that guarantee burning with minimal NOx and CO2 emission. In recent years Furigas grew approximately 25 % per year achieving a yearly turnover of approximately EUR 17 million and employing 150 people. Furigas has an Internet site : www. furigas.nl.

This acquisition is fully in line with Bekaert’s strategy to produce more end products with a higher added value based on its core competencies. This will also enable Furigas to accelerate its growth through Bekaert’s world wide network.

Bekaert, headquartered in Kortrijk (Belgium), is the world wide leading producer of steel wire, steel wire products and steel cord and a fast growing producer of advanced materials. Combustion Component Holding B.V. will be part of its fast growing business unit "Bekaert Advanced Materials" (BAM).

Mr. Guy Haemers, Corporate Vice President of BAM, gave the following comments: "With this acquisition Bekaert further engages in a fast growing market and in an environmental friendly technology based on Bekaert’s core competencies that will also contribute to doubling BAM’s sales over a period of maximum three years".