3 April 2006 Bekaert acquires Cold Drawn Products Ltd.
Bekaert reached an agreement to acquire Cold Drawn Products Ltd. for an enterprise value of £12 million (€ 17.4 million). In Western-Europe, Cold Drawn Products Ltd. is a major supplier of specialised shaped wires designed for offshore applications, machinery construction and the automobile industry. The company has 170 employees spread across two plants near to Bradford in the United Kingdom and realises annual sales of £19 million (€ 28 million).
The company mainly produces specialised shaped wires in high carbon steel for reinforcing flexible pipes, which are used for offshore oil extraction. These high-technological wires are also used for the production of all sorts of specific engine and machine components.
Bekaert has large experience in the production of specialised shaped wires in its production facilities for advanced wire products in Belgium, Brazil, and the United States. Bekaert has already carried out several large projects and is a leading supplier for applications in the offshore industry. Bekaert is also a major producer of a wide variety of steel wire and steel cord products for the automobile industry, since a passenger car contains around 30 kg of Bekaert products.
With this acquisition, Bekaert wants to further strengthen its worldwide market leadership in these high-technological niche products.