Belgium's Bekaert purchases 100% of Contours

Tuesday, 02 September 2003 16:08:02 (GMT+3)   |  
       

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.

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