Bekaert divests steel wire business in Costa Rica, Ecuador, Venezuela

Brussels – Bekaert has sold its steel wire solutions businesses in Costa Rica, Ecuador, and Venezuela to Grupo AG for $73 million (€62 million), the Belgian supplier has announced.

The sale is part of Bekaert’s strategy in recent years to transform its business portfolio and reduce exposure to “more commoditised and volatile markets,” said Bekaert 1 July.

The strategy, it added, also focuses on increasing presence in faster growing markets, which offer higher profit margins and higher returns on capital.

The sale was initially announced 28 Feb and closed 30 June following regulatory approvals, competition clearance, and other closing conditions.

Bekaert said the proceeds from the sale will further strengthen its balance sheet and support commitment to shareholder returns and investment plans for growth.

The sold businesses generated €60 million in consolidated revenue and €4 million in underlying EBIT in the first six months of 2025.

Subject to final closing balances, Bekaert expects the disposal to result in a profit on sale of €15 million.

After the sale, the group will generate 4% of its consolidated sales in Latin America.