Bekaert Sells Steel Wire Solutions Businesses in Costa Rica, Equator, and Venezuela

Bekaert has entered into an agreement to sell its Steel Wire Solutions businesses located in Costa Rica, Ecuador, and Venezuela to Grupo AG. This strategic divestiture values the entities at an enterprise value of approximately $73 million, resulting in an anticipated net return for Bekaert of $37 million. The transaction, expected to conclude in the third quarter of 2025, is subject to applicable regulatory approvals and customary closing conditions. This move is in line with Bekaert's ongoing strategy to transform its business portfolio by reducing its exposure to primary and volatile markets, and shifting focus towards faster-growing segments offering higher profit margins and returns on capital. The sale includes production and distribution sites in the aforementioned countries, primarily manufacturing steel wire products for construction, agricultural fencing, mining, and industrial applications. The businesses generated a consolidated revenue of about $137 million in 2024 and the sale is set to strengthen Bekaert’s financial position, supporting shareholder returns and growth investment plans.