December 10, 2013

Bekaert, a global market and technology leader in steel wire transformation and coatings, plans to expand in Central and Latin America, including the start-up of a Dramix® plant in Costa Rica, the acquisition of the majority of the shares of the ArcelorMittal steel wire plant in Costa Rica, and raising its share from 45% to 100% in the Cimaf ropes plant in Brazil. Bekaert’s expansions in Costa Rica will be implemented via the Bekaert Ideal Holding and hence includes a regional extension of the partnership between Bekaert and its Ecuadorian partners. The deal also builds on the partnership which Bekaert and ArcelorMittal currently have in Brazil. The objective is to better serve customers from various sectors in the region with a broader steel wire product portfolio in the construction, agricultural, fencing and industrial markets. The decision to build a Dramix® manufacturing plant in Costa Rica illustrates the strong belief in continued growth opportunities for innovative products in the construction sector in Latin and Central America.

As part of the transaction announced today, Bekaert will obtain full ownership of Cimaf Cabos in Saõ Paulo in Brazil, one of the manufacturing plants currently owned by Belgo Bekaert Arames. Cimaf Cabos is a leading steel rope producer in South America and is part of a business platform which Bekaert is gradually expanding on a global level and which serves mining, oil & gas, lifting equipment and infrastructure markets.