23 August 2007 Closure of Bekaert Australia Steel Cord plant
Bekaert, together with OneSteel, has decided to close the steel cord plant based in Geelong (Australia). This follows an extensive review of business performance which has included customer and market outlooks, financial performance, plant operations and sourcing alternatives. Employees, customers and suppliers have been advised of the closure which will occur by the end of the year, after all customer supply contracts and commitments for 2007 have been completed. The company will work closely with the employees and their union representatives to support an advice program and job placement assistance. The plant employs 74 people.
Bekaert Australia Steel Cord Pty Ltd is a joint venture business formed in 1986, between Bekaert and OneSteel Pty Ltd, supplying steel cords and hose wires to tire and hydraulic hose manufacturers in Australia, New Zealand and South East Asia.
Bekaert remains committed to its customers within Australia and New Zealand. Therefore, the company is developing transitional supply arrangements from its other steel cord plants located within North and South East Asia.