Steel wire firm Bekaert shares that it has obtained the first third-party certificates for its tyre reinforcement with high recycled steel content and has delivered the initial batches of this steel to Bridgestone Corporation. According to the company, high recycled content halves the CO2 footprint of its product, and such certification helps meet demand from customers and end markets while addressing a “critical challenge in the industry.”
After having led the company over the past three years, Oswald Schmid will retire as CEO of Bekaert on 31 August. The company’s Board of Directors has appointed former Bridgestone executive Yves Kerstens his successor as CEO, effective 1 September.
Bekaert considers the installation of a solar park within the grounds of its plant in Burgos, Spain a “significant step in progressing on the company’s sustainability ambition to reach Carbon Net Zero by 2050.” The facility at the Industrias del Ubierna SA (Ubisa) site will produce over 14 GWh of electricity per year, equivalent to the annual consumption of more than 4,000 households.
Bekaert’s newly-expanded Russian tyre cord production operation is receiving strong demand – but solely from local producers. Speaking in the company’s full-year 2021 conference call on 25 February 2022, NV Bekaert SA CEO Oswald Schmid told investors that “all the business we do is for Russian customers. There’s no export outside.” At 12 years old, Bekaert’s tyre cord-focused Lipetsk plant is one of the firm’s newer plants. It employs about 500 people.
Doublestar Tyres, the new majority shareholder of Kumho, recently announced that its tyres are on-sale alongside premium brands at Carrefour supermarkets in Spain.
According to Doublestar, which compared Carrefour founded in 1959 to Walmart in the USA, the supermarket chain is Europe’s favourite. Having pioneered the so-called hypermarket approach in Europe Carrefour has developed into the largest retailer in Europe and the second largest international retail chain group in the world, with business scope covering more than 40 countries and regions. Carrefour owns 17 large chain stores in Spain, which covers the Iberian area and radiates to the whole pan-European region. With an annual population of 400 million, Carrefour is a perfect channel for product sales and a perfect platform for brand exposure.
Five of Michelin’s best suppliers were recognised at the fourth edition of the tyre maker’s Supplier Awards, which was held yesterday at ‘Aventure Michelin’ in Clermont-Ferrand, France. The awards were presented to representatives of the winning companies by Jean-Dominique Senard, chief executive officer and managing general partner of the Michelin Group, and four members of the Group Executive Committee.
Bekaert and ArcelorMittal have integrated Bekaert’s formerly wholly-owned steel cord 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 has become the majority shareholder (55.5%) of the steel cord entity in Sumaré and Bekaert retains the remaining shares (44.5%).
The sale of Pirelli’s tyre steelcord activities at three sites was finalised on 18 December. Bekaert is now the official owner of the Figline facility in Italy, the Slatina plant in Romania and the operation in Sumaré, Brazil, however it still awaits local regulatory approvals for the transfer of Pirelli’s steelcord facilities in Izmit, Turkey and Yanzhou, China. It is expected that these approvals could be obtained in the first quarter of 2015, however the companies can give no assurance that this timeframe will be met.
Upon releasing its latest financial results, Pirelli provided an update on the deal to sell its steelcord business to Belgium’s NV Bekaert SA. The European Commission approved the transaction at the start of August, and Pirelli reports that it still remains subject to approvals in China and Turkey. The deal is expected to close between the end of 2014 and the first quarter of 2015.
The European Commission has approved the proposed acquisition of the steel tyre cord business of the Italian company Pirelli by its Belgian-based rival NV Bekaert SA under the EU Merger Regulation. According to an official statement dated 31 July, the commission concluded that the acquisition “would not raise competition concerns as the merged entity’s customers, which are large, multinational tyre companies, have countervailing buyer power which is further strengthened by over-capacity in the steel tyre cord market.”
Steel cord manufacturer Bekaert reports organic sales growth in the first quarter of 2013, however the influence of changing exchange rates ensured this positive trend was more than cancelled out. In the first quarter of 2014, Bekaert achieved consolidated sales of €782 million and combined sales of €990 million, respective decreases of 2.1 per cent and 4.4 per cent compared with the first quarter of 2013. On a constant currency basis, Bekaert’s consolidated revenues increased 4.2 per cent and combined sales rose 4.9 per cent.
Pirelli & C. SpA has signed an agreement with Bekaert to sell 100 per cent of its steel cord activities to the Belgium-based steel wire company for an enterprise value of €255 million. At the same time, the two firms have entered into a long-term agreement for Bekaert to supply Pirelli with tyre cord. The deal is subject to regulatory approval and is expected to close in the second half of the year.