Kortrijk, Belgium-based Bekaert, one of the world's largest steel cord and wire manufacturers, has announced that it has decided to cease all Dramix® steel fiber manufacturing operations in Orotina, Costa Rica, and to close the respective entity, Bekaert Costa Rica SA.
According to the company, the high-cost structure of the entity and increased competitive price pressure in the construction markets served in Latin America, have affected the plant's financial performance to a level that is no longer sustainable. The measures implemented in recent years to make the entity profitable have not been successful.
Bekaert stated that it sees no other option to safeguard its position in the respective Latin American steel fiber markets and that it will continue to serve customers in the region with Dramix® steel fibers produced in other Bekaert entities in the world.