Kortrijk, Belgium -Â Bekaert has signed a strategic cooperation agreement with the Indian steel company Mukand to make stainless steel wire for automotive applications -Â but not tyres. Both partners will set up a 50/50 joint venture and invest Rs. 100 Crores (â‚¬ 18 million)
in a new factory to be built in Maharashtra (India).
Separately, Bekaert makes brass-coated steel cord for the rubber and tyre industry at Bekaert Industries Pvt. Ltd (BIPL) in Pune.
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Press release from Bekaert