Belgium’s Bekaert purchases 100% of Contours
Belgium's Bekaert Corporation has recently announced that, it has purchased Orrville Steel Inc's 50% of stake in Contours Ltd to make it a wholly owned subsidiary of the parent company of the Bekaert Group; N.V Bekaert S.A. This transaction has been realized according to the operating agreement between the two shareholders in 1998. As a result, Contours, which was founded as a fifty-fifty joint venture between Bekaert and Orrville, is now fully possessed by Bekaert Group.
Located in Orrville, Ohio and founded in 1970, Contours Ltd. is a technology based manufacturer of flat, shaped, hardened, tempered steel wires and steel
wire components. The company reported shipment of 34'000 tons of products representing $41 million turnover for 2002.