Global leader in steel wire solutions Bekaert will sell Steel Wire Solutions businesses in Chile & Peru to current partners for $350M. Expected to close in 2023, subject to regulatory approvals & closing conditions, Bekaert would receive net proceeds of $136M.The sale agreement between Bekaert and its current partners includes the production and distribution facilities of the Steel Wire Solutions businesses in Chile and Peru. These facilities are responsible for the manufacturing, selling, and distribution of steel wire products, primarily used for construction, agricultural fencing, mining, and industrial applications.Bekaert plans to sell its shares in Chilean entities Industrias Chilenas de Alambre-Inchalam SA in Talcahuano, Chile and Prodalam SA in Santiago, Chile, as well as their subsidiaries in Chile and Peru. The company currently holds a 52% stake in the Chilean entities and a 38% stake in the Peruvian entities.Bekaert’s wholly owned Bridon-Bekaert ropes entities in Chile and Peru are not part of the transaction.
Global leader in steel wire solutions Bekaert will sell Steel Wire Solutions businesses in Chile & Peru to current partners for $350M. Expected to close in 2023, subject to regulatory approvals & closing conditions, Bekaert would receive net proceeds of $136M.The sale agreement between Bekaert and its current partners includes the production and distribution facilities of the Steel Wire Solutions businesses in Chile and Peru. These facilities are responsible for the manufacturing, selling, and distribution of steel wire products, primarily used for construction, agricultural fencing, mining, and industrial applications.Bekaert plans to sell its shares in Chilean entities Industrias Chilenas de Alambre-Inchalam SA in Talcahuano, Chile and Prodalam SA in Santiago, Chile, as well as their subsidiaries in Chile and Peru. The company currently holds a 52% stake in the Chilean entities and a 38% stake in the Peruvian entities.Bekaert’s wholly owned Bridon-Bekaert ropes entities in Chile and Peru are not part of the transaction.
