Bekaert and Ontario Teachers' Pension Plan (Ontario Teachers') have reached an agreement in principle for the acquisition by Bekaert of Ontario Teachers' 33% equity share in Bridon-Bekaert Ropes Group. The ropes and advanced cords business, whose financial results include in the consolidated financial statements of Bekaert since the establishment of Bridon-Bekaert Ropes Group at the end of June 2016, will become wholly owned subsidiary of Bekaert.
Taking full ownership of Bridon-Bekaert Ropes Group fits within the ambitions and strategy of Bekaert to grow a global ropes and advanced cords business that will create significant value over time for customers worldwide and for the Bekaert Group.
