Bekaert in Joint Venture with Bridon International
December 10, 2015
Cleary Gottlieb is representing Bekaert in its agreement with Ontario Teachers’ Pension Plan to merge the ropes and advanced cords business of Bekaert with Bridon International. Bekaert will hold 67% and Ontario Teachers’ will hold 33% of the joint venture vehicle. The joint venture will account for approximately €600 million in sales on an annual basis. The new group will have almost 3,000 employees, 19 manufacturing entities across 11 countries, and a global sales and service network.
Bekaert is a major Belgian industrial group specializing in steel wire transformation and coating technologies. Bekaert is listed on Euronext in Brussels and has 30,000 employees worldwide with €4 billion in annual revenue.