08 maj: Aktier/Europa: Grækenland holder Europas aktier i rødt
09 maj: ESTIMAT NKT Q1 9/5: Flexibles-salg påvirker bundlinjen positivt
09-05-2012 06:31:02

Bekaert and Southern Steel set up partnership to combine their steel wire and ropes activities in South-East Asia

Relateret indhold

Bekaert, a worldwide technological and market leader in drawn steel wire products and advanced coatings, and Southern Steel Berhad (SSB), a leading Malaysian Steel Group, signed an agreement to establish a joint venture, 55% owned by Bekaert and 45% by SSB.

SSB will inject its interests in Southern Wire Industries Malaysia Sdn Bhd (SWI) and Southern Speciality Wire Sdn Bhd (SSW) into the joint venture, while Bekaert will bring in the galvanized wire activity platform which today is part of PT Bekaert Indonesia.

Henri-Jean Velge, Bekaert Group Executive Vice President Wire, stated: "Developing a partnership with Southern Steel will create a production and sales platform for our joint wire and ropes activities in South-East Asia that responds to our ambitions for growth in the region."

Dr. Tan Tat Wai, Group Managing Director of Southern Steel Berhad, added: "This joint venture will enable us to leverage our mutual capabilities and technological expertise, for the benefit of the new organization and of its customers."

Production Platforms and Markets

Production Platforms: the activities of Southern Steel's wire operations encompass two production plants in Malaysia; one in Shah Alam and one in Ipoh. The product portfolio includes a wide range of galvanized and specialty steel wires and ropes, and complements Bekaert's existing product range of steel wires manufactured in its wire plant in Karawang, Indonesia.

Markets: The deal focuses on serving customers in the growth markets of the Association of Southeast Asian Nations (ASEAN).

Deal structure and transaction closing

The transaction, with an enterprise value of approximately € 47 million (USD 63 million), is subject to customary closing conditions and is expected to be completed in the third quarter of 2012. The financial statements of the joint venture which will be named Bekaert Southern Wire Pte Ltd. with registered office in Singapore, will be integrated in Bekaert's consolidated statements in line with closing terms and conditions. Based upon the 2011 turnover, the deal would add approximately € 60 million in annualized sales.

Press release in pdf


This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the

information contained therein.

Source: Bekaert via Thomson Reuters ONE

HUG#1609968

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Aktier/tendens: Schweizere kan skubbe DSV i forventet positiv åbning

27-02-2017 08:24:19
Et løftet kursmål til DSV er en af få nyheder af nævneværdig størrelse mandag morgen, hvor det generelle danske aktiemarked ser ud til at kunne indlede ugen med..

Rovsing mindsker driftsunderskud i første halvår og opjusterer

24-02-2017 16:36:15
Omsætningen i Rovsing, der har hovedkontor i Skovlunde ved København og blandt andet producerer testsystemer til satellitter og elektroniske produkter til rumin..

KORR. Genmab/Sydbank: Positiv anbefaling er godt nyt - og ventet

24-02-2017 14:04:12
(Korr: "uger" rettet til "måneder" i sjette afsnit)Det europæiske lægemiddelagenturs (EMA) komite for medicinske produkter for human anvendelse (CHMP) har givet..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Aktier/tendens: Schweizere kan skubbe DSV i forventet positiv åbning
2
Vindmølleproducent mister en tredjedel af sin værdi på tre dage
3
GN/Goldman: Sætter tredjehøjeste kursmål
4
Genmab nominerer to nye til bestyrelsen og opfylder kvindekvote
5
Coloplast/Goldman: Kursmålet får en tak op

Relaterede aktiekurser

Bekaert 41,68 -0,3% Fald i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
27. februar 2017 12:15:04
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20170217.2 - EUROWEB2 - 2017-02-27 12:15:04 - 2017-02-27 12:15:04 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x