Belgian manufacturer Bekaert finalizes sale of its Costa Rica, Ecuador, and Venezuela steel wire operations to Grupo AG as portfolio strategy, for USD 73 million.
Jul 3, 2025
Belgian steel cord and wire manufacturer, Bekaert has finalized the divestment of its steel wire solutions businesses in Costa Rica, Ecuador, and Venezuela to Grupo AG for USD 73 million. In February this year, the companies had reached an agreement for the sale following Bekaert’s decision to reduce its presence in more volatile markets and increase its position in faster growing markets.
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Bekaert transferred its shares in BIA Alambres Costa Rica S.A. in Costa Rica, Ideal Alambrec S.A. in Ecuador, and Vicson S.A. in Venezuela, along with their subsidiaries, to Grupo AG. These companies primarily produce and sell steel wire products primarily for construction, mining, agricultural and industrial sectors.
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The transaction reflects Bekaert’s ongoing efforts to streamline operations across Latin America and enhance shareholder returns. This realignment is consistent with its broader global optimization and value creation goals.
