Bekaert to cut jobs in Belgium and China

Friday, 03 February 2012 15:44:50 (GMT+3)   |  
       

Kortrijk, Belgium-based Bekaert, one of the world's largest steel cord and wire manufacturers, has announced that it plans to restore long-term profitability amid the changed market environment.
 
The measures to readjust Bekaert's global sawing wire operations started in December 2011 and will lead to a reduction of 1,850 jobs. Accordingly, Bekaert will cut 1,250 jobs in China and 600 jobs in Belgium. In order to optimize its organizational and cost structure on a global scale, Bekaert aims to reduce its overall global cost structure by €100 million annually in the forthcoming years.
 
According to Bekaert's statement, difficult market conditions in the solar energy sector have affected the manufacturing plant in Aalter, Belgium, causing management to consider stopping all sawing wire activities in Aalter.

Similar articles

US drawn wire exports up 40.1 percent in January

28 Mar | Steel News

US drawn wire imports up 24.6 percent in January

13 Mar | Steel News

France’s steel product import value down 17.8 percent in 2023

08 Mar | Steel News

France’s steel product export value down 22.4 percent in 2023

08 Mar | Steel News

US drawn wire exports down 23.3 percent in December

29 Feb | Steel News

Turkey’s BMS receives galvanized wire orders from UK

26 Feb | Steel News

Wire consumption in Mexico down 7.8 percent in December

16 Feb | Steel News

US drawn wire imports down 6.1 percent in December

12 Feb | Steel News

France’s steel product import value down 18.4 percent in Jan-Nov

09 Feb | Steel News

France’s steel product export value down 23.2 percent in Jan-Nov

08 Feb | Steel News