Kortrijk, Belgium--Steel cord maker, Bakaert SA posted a 20-percent improvement in sales for the 12 months to December 2004.
Sales of advanced wire products increased by 21 percent, to â‚¬2411 million (combined sales of Bekaert operations, subsidiaries and joint ventures), forming 78 percent of Bekaert's total sales. Within the advanced wire unit, steelcord sales in China grew by only 1 percent, reflecting unfavourable government regulations, said the company.
The company said prices of steel rod--it's main raw material--increased dramatically during the year, but it was able to recover most of this cost from customers through price increases.
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Press release from Bekeart