EMEA
Bekaert's activity platforms performed well in most EMEA markets, with automotive sales recording solid growth in comparison to the first nine months of 2010. Sales declined slightly in the third quarter of 2011 due to substantial lower demand in solar energy markets.

North America
Sustained demand in all markets, except construction and agriculture, and a positive product mix led to increased sales in North America. The strong nominal sales growth was, however, to a large extent offset by unfavorable exchange rates.

Latin America
The Bekaert subsidiaries in Latin America continued to deliver robust sales growth throughout the first nine months of the year. Sales volumes were strong, in particular in Venezuela and Peru, while currency movements had an adverse effect of -6%. Due to strong local currencies and a resulting highly competitive environment in Brazil and Chile, the sales growth was tempered to 8% at the combined sales level.

Asia Pacific
Although top line sales in Asia Pacific were in line with the first nine months of 2010, the quarterly trend is negative. The economic slowdown in the sectors Bekaert serves in China and the substantial overcapacity and price fall in the solar energy sector in particular, drove third quarter sales down 24%4 from last year, thereby more than offsetting the continued growth in India and Indonesia.