Izmit – Pirelli and Bekaert announced that they have successfully finalized the sale transaction of Pirelli’s steel cord activities in Turkey (Izmit). The news comes after the sale to Bekaert of steelcord Pirelli establishments in Figline (Italy), Slatina (Romania) and Sumaré (Brazil), previously announced on December 18, 2014. In line with what was announced in February 2014, the sale agreement includes the transfer to Bekaert of Pirelli’s steelcord activities in China (Yanzhou), whose finalization is expected within the first quarter of 2015, pending regulatory approvals by the local authorities. The transaction is at an enterprise value of around €30 million. (9colonne)
