Bekaert sells its steel businesses in Chile & Peru
Time:Tue, 07 Mar 2023 09:19:20 +0800
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Belgian multinational steel company Bekaert announced the sales of its steel wire businesses in Chile and Peru to its current partners. This transaction, which has a value of approximately US$350 million and results in net earnings of US$136 million for the company, is expected to close this year.
Bekaert currently owns 52% of the shares of the Chilean businesses and 38% of the Peruvian ones. Revenues from this transaction will strengthen Bekaert's balance sheet and support the investment plans for further growth.
