The Belgium-headquartered steel cord and wire manufacturer Bekaert has announced that it has started a major expansion program for its manufacturing plant in Lipetsk, Russia. The expansion of the Lipetsk plant will contribute to the growth of the tire industry based in Russia and the wider CIS region.
The company stated that it projects continued strong and growing demand from the tire manufacturers based in Russia and the wider CIS region. In order to accommodate for demand growth arising from the ongoing and projected expansions of its customers, Bekaert has decided to add an additional 50 percent tire cord production capacity to the plant by mid 2018.
The Bekaert Lipetsk plant opened in 2010 and produces steel cord for the tire industry.