Lipetsk, Russia – Bekaert SA is investing RUB1.7 billion (€20 million) in its tire cord production plant in Lipetsk to meet increasing demand in the region.
In a recent statement, the Belgian group said it had signed an agreement with the local government of Lipestsk to add a new bead wire production line and expand the production capacity of tire cord manufacturing at the site.
Operational since 2010, the Bekaert Lipetsk plant produces steel cord for the tire industry and Dramix fibers for construction markets.
The installation of a bead wire line, said the group in a 4 June statement, will allow the plant to produce “the full range of products for the reinforcement of tires.”
Scheduled for production in the first half of 2022, the project will create 80 new jobs.
Bekaert expects the new capacity to support demand from existing customers while becoming ‘an export platform to the European region.’