Bekaert, a global market and technology leader in steel wire transformation and coatings, announced its expansion plans in Central and Latin America, including the start-up of a Dramix plant in Costa Rica, the acquisition of the majority of the shares of the ArcelorMittal steel wire plant in Costa Rica, and raising its share from 45% to 100% in the Cimaf ropes plant in Brazil.
Bekaert’s expansions in Costa Rica will be implemented via the Bekaert Ideal Holding and includes a regional extension of the partnership between Bekaert and its Ecuadorian partners. The deal also builds on the partnership that Bekaert and ArcelorMittal currently have in Brazil.
The decision to build a Dramix manufacturing plant in Costa Rica reflects the strong belief in continued growth opportunities for innovative products in the construction sector in Latin and Central America.
As part of the transaction, Bekaert will obtain full ownership of Cimaf Cabos in Saõ Paulo in Brazil, one of the manufacturing plants currently owned by Belgo Bekaert Arames. Cimaf Cabos is a leading steel rope producer in South America and is part of a business platform that Bekaert is gradually expanding on a global level and serves mining, oil & gas, lifting equipment and infrastructure markets.
