Bekaert closing China tire cord plant

Brussels – Bekaert has decided to close its tire cord plant in Huizhou, Guandong province,China, the Belgian group said in a 2016 financial statement.

“Investment restrictions in Huizhou have put a burden on the plant’s potential to grow scale and improve cost effectiveness to the level of our other operations,” the company reported 1 March.

The plan now is to invest in other existing locations in the country, said Bekaert, noting that it had expanded its tire cord activities in…