7 January 2003 Bekaert expands in Central Europe
Bekaert announces today that it has signed an agreement with
Penta Investments Limited and Majetkovy Holding a.s. to acquire 100 % of the shares of Drôtovña Drôty a.s. and Drôtovña Kordy a.s. in the Slovak Republic.
Both Drôtovña Drôty a.s. and Drôtovña Kordy a.s. have been incorporated in 1999 as a result of a restructuring of the company Drôtovña. Both companies are located on the same industrial site at Hlohovec, 75 km North East of Bratislava.
The present owners, Penta Investments Limited and Majetkovy Holding a.s., are in the process of rationalising the product portfolio and adapting employment.
Drôtovña Drôty a.s. will have a capacity of approx. 60,000 tonnes of various steel wires for the Central European market.
Drôtovña Kordy a.s. has a capacity of approx. 9,000 tonnes of tire cord and approx. 8,000 tonnes of bead wire, both for the Central European market.
The acquisition of both companies will increase Bekaert’s market share and strengthen its competitive position in the fast growing Central European market.
Closing of the deal is subject to the approval of the Antimonopoly Office of the Slovak Republic and the full implementation of the rationalisation programme.