Bekaert closes Australian JV steelcord plant

Geelong, Australia - The joint owners of Bekaert Australia Steel Cord Pty Ltd have decided to close its sole manufacturing facility - a steelcord plant based in Geelong near Melbourne in Australia's Victoria State, with the loss of 74 jobs. The owners are Bekaert and OneSteel Pty Ltd.

The facility supplies steel cords and hose wires to tyre and hydraulic hose manufacturers in Australia, New Zealand and South East Asia. Bekaert said the unit, "will close by the end of the year, after all customer supply contracts and commitments for 2007 have been completed." Local newspaper reports said the plant woulod close on 14 Dec. this year.

In a statement, Bekaert said it, "remains committed to its customers within Australia and New Zealand. Therefore, the company is developing transitional supply arrangements from its other steel cord plants located within North and South East Asia."

The desision follows an extensive review of business performance which has included customer and market outlooks, financial performance, plant operations and sourcing alternatives, said Bekaert.

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Press release from Bekaert

74 jobs axed from North Shore factory Geelong Advertiser (Australia)