Regulatory Filings • Feb 27, 2015
Regulatory Filings
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Regulated information
27 February 2015
Press Katelijn Bohez T +32 56 23 05 71
Investor Relations Jérôme Lebecque T +32 56 23 05 72
Bekaert and Groz-Beckert have signed an agreement regarding the sale of Bekaert's Carding Solutions activities to Groz-Beckert, a global company with headquarters in Albstadt, Germany.
The transaction covers the carding production facilities in Belgium, India, China and the US and the global sales and services network. The deal involves the employees and assets of the activity platform.
The Carding Solutions activities generate € 26 million annual revenue which accounts for less than 1% of Bekaert's consolidated sales. Bekaert and Groz-Beckert anticipate a deal closing in the course of the second quarter of 2015. As part of this transaction, the companies will enter into a long-term supply agreement of Bekaert steel wire to Groz-Beckert.
Bekaert's portfolio for the carding industry includes card wires and clothing for short staple, nonwoven, woolen and worsted applications. Bekaert Carding Solutions serve textile machine manufacturers and textile companies worldwide with advanced products and service programs. The platform employs 350 people in its worldwide manufacturing, distribution and sales network.
Groz-Beckert is the world's leading provider of industrial machine needles, precision parts and fine tools as well as systems and services for the production and joining of textile fabrics. The products and services support the fields of knitting, weaving, felting, tufting and sewing. The family-owned company, founded in 1852, employed nearly 7 700 people and generated a turnover of around € 570 million in 2014. Groz-Beckert operates with agencies, production and distribution subsidiaries in more than 150 countries around the world.
Bekaert (www.bekaert.com) is a world market and technology leader in steel wire transformation and coatings. Bekaert (Euronext Brussels: BEKB) is a global company with headquarters in Belgium, employing more than 28 000 people worldwide. Serving customers in 120 countries, Bekaert pursues sustainable profitable growth in all its activities and generated combined sales of € 4 billion in 2014.
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.
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