BEKAERT NV 23-Mar-2016
Press release
Summary & download
The Management of Bekaert announced today a major expansion program for the company's manufacturing plant in Rogers, Arkansas (US). The announcement took place at the Rogers, Arkansas plant in the presence of Asa Hutchinson, Governor of Arkansas, Greg Hines, Mayor of Rogers, and Matthew Taylor, CEO of Bekaert. The expansion of the Rogers plant will contribute to the growth of the automotive markets in the US.
The Rogers plant opened in 1989 and produces steel cord for the tire industry. Bekaert projects continued strong and growing demand from the tire manufacturers based in the US, as a result of the expansion programs of the tire manufacturers in the country and of their preference to source domestically produced tire cord. In order to accommodate for the projected growth, Bekaert has decided to add an additional 50% production capacity to the Rogers plant. The expansion will be gradually implemented and will add over 100 new jobs.
Bekaert CEO Matthew Taylor stated: 'Our expansion plans fit within Bekaert's strategy to drive growth in this very important sector. We are committed and dedicated to creating value for our customers and we are expanding the Rogers plant to contribute to the growth of the North American based tire makers.'
About Bekaert
Bekaert (www.bekaert.com) is a world market and technology leader in steel wire transformation and coating technologies. We pursue to be the preferred supplier for our steel wire products and solutions by continuously delivering superior value to our customers worldwide. Bekaert (Euronext Brussels: BEKB) is a global company with almost 30 000 employees worldwide, headquarters in Belgium and € 4.4 billion in annual revenue.
Bekaert in North America
Bekaert is present in North America since the 1950s. Today, the Company employs 1600 people in 10 plants and offices in the US and Canada. In this region, Bekaert serves a wide variety of steel wire and cord solutions to customers in the tire and other automotive components industries, the construction and infrastructure sector, the oil & gas, energy and utilities sectors, agricultural and residential fencing markets and many more. Upon finalization of the intended merger agreement between Bekaert and Ontario Teachers' Pension Plan regarding the ropes and advanced cords businesses of Bekaert and Bridon - which is conditional to customary closing conditions - Bridon's North American manufacturing entities in Pennsylvania and Bekaert's Wire Rope Industries business in Pointe Claire (Canada) and Texas (US) will be integrated in the global Bridon Bekaert Ropes Group.
Bekaert NV issued this content on 23 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 March 2016 16:11:47 UTC
Original Document: http://www.bekaert.com/en/about-us/news-room/news/bekaert-rogers-arkansas-us-launches-major-expansion-program
