Please find attached a press release concerning the successful closing of the transaction leading to the sale of its Industrial Coatings activities.
Summary:
Bekaert announced today the successful closing of the transaction by which its Industrial Coatings activities have been sold to Element Partners, a Pennsylvania, US-based equity fund. The transaction covers the production facilities and all personnel in Deinze (Belgium) and Jiangyin (China), the maintenance activity at Spring Green (US), and the respective sales organization. Last Friday, Element Partners also closed the acquisition deal of Soleras Ltd., a US-based company active in the same sector.