“N.V. Bekaert S.A.” (Bekaert, Belgium) has reached an agreement to acquire 60 % shareholding in “Bastion Wire (Pty) Ltd”, incorporated in Stellenbosch (Cape Province) in South Africa.  The company , which will change its name to

“Bekaert-Bastion Fencing Systems (Pty) Ltd” (BBFS)

will be part of Bekaert’s Merchant Products Business Unit (Fencing Systems).   It  will specialise in security and industrial fencing products.  BBFS will start local production in 2001.  It also will be the exclusive distributor for Bekaert for this range of products.  BBFS is expected to realise by 2005 a yearly turnover of approx. EUR 4 million.

The company fits Bekaert’s strategy of shifting towards “fencing systems”, “integrated solutions” and a further international expansion in promising and high growth regions.  Bekaert moves into South Africa because of the high potential for fencing systems in the fast growing local security market.

Bastion Wire is presently the exclusive distributor and marketing company for the Bekaert Fencing Systems in Southern Africa.  They also are fencing contractors, erecting all types of fences.

Bekaert is a technology driven Group, having its headquarters in Belgium, and producing and marketing a great variety of products based on metal transformation and a large variety of coating technologies.  Its current activities are built around four Business Units; Steel Wire, Merchant Products, Steel Cord and Bekaert Advanced Materials. Total turnover of the Bekaert Group in 1999 was EUR 2.5 billion. Founded in 1880, the company operates in 70 countries and has 16,500 employees.

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