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Bekaert NV — M&A Activity 2012
Aug 30, 2012
3915_iss_2012-08-30_d92f300a-a883-4c79-9787-a0160d27133c.pdf
M&A Activity
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Press release
Regulated information
30 August 2012
Press Katelijn Bohez T +32 56 23 05 71
Investor Relations Jérôme Lebecque T +32 56 23 05 72
www.bekaert.com www.bekaert.mobi
Bekaert announces establishment of its joint venture with Southern Steel
Bekaert, worldwide technological and market leader in drawn wire products and advanced coatings, announced today the successful closing of the transaction to establish a joint venture, 55% owned by Bekaert and 45% by Southern Steel Berhad (SSB), a leading Malaysian Steel Group.
As communicated on 9 May 2012, the joint venture deal consists of SSB contributing its interests in the Malaysian wire activities based in Shah Alam and Ipoh, and Bekaert bringing in the galvanized wire platform located in Karawang, Indonesia. The joint venture will serve customers in the Southeast Asian growth markets.
The joint venture has been named Bekaert Southern Wire Pte Ltd with registered office in Singapore. The results will be integrated in Bekaert's consolidated statements as of 1 September 2012.
Related press release dd 9 May 2012:
About Southern Steel Group
The Southern Steel Group is a leading Malaysian Steel group with over 45 years of experience and expertise in steel products manufacturing.
About Bekaert
Bekaert (www.bekaert.com) is a global technological and market leader in advanced solutions based on metal transformation and coatings, and the world's largest independent manufacturer of drawn steel wire products. Bekaert (Euronext Brussels: BEKB) is a global company with headquarters in Belgium, employing 27 000 people worldwide. Serving customers in 120 countries, Bekaert pursues sustainable profitable growth in all its activities and generated combined sales of € 4.6 billion in 2011.
Disclaimer
The foregoing release may contain forward-looking statements regarding the impact of the transaction on the financial statements of Bekaert. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Bekaert is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise. Bekaert disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by Bekaert.