BEKAERT BOOSTS STEEL CORD MARKET-SHARE WITH PIRELLI ACQUISITION
June 8th, 2014
Global steel transformation giant Bekaert is awaiting a European Commission decision on whether its plans to acquire Pirelli Tyre’s steel tyre cord business can go ahead. Bekaert expects a ruling this month (July) on the USD350 million deal to expand the company’s share of the global market from Brussels’ competition directorate general. The Belgian company notified the Commission of the planned sale shortly after it was announced February 27.Pirelli Tyre – which supplies most of Michelin and Bridgestone’s steel tire cord needs – is headquartered in ...
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