Bekaert's Q3 figures reveal massive growth in Asia

Kortrijk, Belgium - In its results for the nine months to 30 Sept, 2006, NV Bekaert SA has revealed sharp growth in sales to the Chinese region. Sales of steel cord into China jumped 43 percent over the previous year.

Bekaert noted weak demand for steelcord from the tyre industry in both Europe and North America, while sales of steelcord to other regions slipped 5 percent.

Overall, the company said consolidated sales of advanced wire products increased by 4 percent to €1290 million compared with the same period a year earlier. Combined sales, which includes joint ventures and minority stakes, increased 6 percent, to €2162 million.

In a relaed announcement, Bekaert said it will reorganise the management of its activities in advanced coatings (industrial coatings and specialised films) and advanced materials (fibre technologies, combustion technologies and composites).

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Results statement from Bekaert

Statement on reorganisation of coatings unit from Bekaert