Bekaert, worldwide technological and market leader in drawn wire products and advanced coatings, announced the successful closing of the transaction to acquire the Qingdao steel wire plant of Hankuk Steel Wire Co Ltd (South Korea), following customary closing and approval processes.

As communicated on 18 July 2011, Bekaert herewith purchased, through its wholly owned holding company Bekaert Wire Products Hong Kong Co. Ltd., 100% of the shares of Qingdao Hansun Steel Co. Ltd.

The company will be renamed Bekaert (Qingdao) Wire Products Co Ltd and its integration within the Bekaert Group comes into effect immediately.

Bekaert is present with a manufacturing platform in China since the early nineties. The company experienced significant growth in China in recent years and operates 18 sites at 9 locations there (Shenyang, Weihai, Jiangyin, Wuxi, Shanghai, Suzhou, Chongqing, Huizhou, Qingdao), including 14 manufacturing plants, an R&D center and Engineering plant, a trading company, and the Regional Headquarters Bekaert Asia. At present, more than 10 000 people are working for Bekaert in China.