Bekaert and ArcelorMittal extend their partnership in Brazil
April 26 2017 - 7:00AM
Bekaert and ArcelorMittal have reached an
agreement on the integration of Bekaert's currently wholly-owned
subsidiary in Sumaré (Brazil) into the BMB (Belgo Mineira Bekaert
Artefatos de Arame Ltda) partnership.
In line with the shareholding structure of the BMB
joint venture, ArcelorMittal will be the majority shareholder
(55.5%) of the steel cord entity in Sumaré and Bekaert will hold
the remaining shares (44.5%).
The transaction is subject to customary closing
conditions and is expected to be completed in the second quarter of
2017.
Both partners aim at a smooth transition process
to ensure continued excellent supply and service to the
customers.
Bekaert will, upon deal closing, no longer report
the results of the Sumaré plant in its consolidated statements but
represent its share in the result of joint ventures.
Press release in PDF
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Bekaert via Globenewswire
NV Bekaert (EU:BEKB)
Historical Stock Chart
From Aug 2024 to Sep 2024
NV Bekaert (EU:BEKB)
Historical Stock Chart
From Sep 2023 to Sep 2024
