ACN 004 410 833 LTD 2 March 2015
COMPLETION OF WIRE ROPES BUSINESS SALEArrium Limited (ASX:ARI) announced on 6 February 2015 that it had entered into an agreement for the sale of its Wire Ropes business to Bekaert, a Belgium based company for A$90 million.
Attached is a release from Bekaert regarding completion of this sale.
For more information on recent announcements of Arrium Limited go to www.arrium.com
CONTACTS:
Investor and Media
Steve Ashe
General Manager
Investor Relations & External Affairs
Tel: +612 9239 6616
Mob: +61408 164 011
Email: steve.ashe@arrium.com
Arrium Limited ABN 63 004 410 833
Arrium Head Office: Level 40, 259 George St, Sydney NSW 2000, GPO Box 536, Sydney NSW 2001, Australia
Phone: +612 9239 6666 Fax: +612 9251 3042 www.arrium.com
Press release Regulated information2 March 2015
Press
Katelijn Bohez
T +32 56 23 05 71
Investor Relations
Jérôme Lebecque
T +32 56 23 05 72
www.bekaert.com
Bekaert successfully completes acquisition of ropes business in Australia
Bekaert and Arrium have successfully closed the acquisition by Bekaert of Arrium's wire ropes business in Newcastle, Australia. The integration of the Australian ropes activities enables Bekaert to take a leading global market position in mining ropes and enhances the company's growth strategy in steel wire ropes in general.
Bekaert and their Chilean partners (through Matco Cables SpA) have acquired the wire ropes business of Arrium Ltd. The Australian entity has been named Bekaert Wire Ropes Pty Ltd and is part of the Bekaert Rope Group in which Bekaert and Matco Cables SpA hold 65% and 35% respectively of the ropes entities in Canada, Chile, Peru, Brazil, the US, and Australia.
The financial results of Bekaert Wire Ropes Pty Ltd will be included in the consolidated statements of Bekaert as from 1 March 2015.
Bekaert is gradually expanding its steel wire ropes platform to serve a very broad range of applications with strong emphasis on the mining, oil & gas and hoisting equipment sectors. The platform's strategy targets both organic and acquisitive growth in markets with interesting potential where Bekaert's core competences, global reach and service model offer a differentiating lever to the industry. Bekaert's ropes platform has been steadily growing over the past years and covers manufacturing and development facilities in Canada, Chile, Peru, Venezuela, Brazil, US, China, Malaysia and Australia. The acquisition in Australia fits within Bekaert's strategy to grow this business together with the company's existing Chilean partners.
Related press release:5 February 2015: Bekaert accelerates growth strategy in steel rope markets
Bekaert ProfileBekaert (www.bekaert.com) is a world market and technology leader in steel wire transformation and coatings. Bekaert (Euronext
Brussels: BEKB) is a global company with headquarters in Belgium, employing more than 28 000 people worldwide. Serving customers in
120 countries, Bekaert pursues sustainable profitable growth in all its activities and generated combined sales of € 4 billion in 2014.
DisclaimerThe foregoing release may contain forward-looking statements regarding the impact of the transaction on the financial statements of Bekaert. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Bekaert is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise. Bekaert disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by Bekaert.
Press release - Bekaert successfully completes acquisition of ropes business in Australia 1/1
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