Bekaert and ArcelorMittal have reached an agreement on the integration of Bekaert’s currently wholly-owned subsidiary in Sumaré (Brazil) into the BMB (Belgo Mineira Bekaert Artefatos de Arame Ltda) partnership.
In line with the shareholding structure of the BMB joint venture, ArcelorMittal will be the majority shareholder (55.5%) of the steel cord entity in Sumaré and Bekaert will hold the remaining shares (44.5%).
The transaction is expected to be completed in the Q2 2017.
