Bekaert (N.V. Bekaert S.A.) - Company Profile

Bekaert (N.V. Bekaert S.A.) is a global market and technology leader in steel wire transformation and coating technologies, headquartered in Belgium. The company specializes in advanced solutions based on steel wire and also extends its expertise to innovative materials and services beyond steel. Bekaert's extensive product portfolio serves diverse markets including new mobility, sustainable construction, energy transition, automotive, agriculture, and consumer goods, with a strong emphasis on safety, smart solutions, and sustainability.

**Key Points and Details:**

* **Core Business and Products:** Bekaert's primary business involves the transformation of steel wire and the application of proprietary coating technologies. Key product areas include:

* **Rubber Reinforcement:** A global market leader in advanced rubber reinforcement solutions, with approximately 25% of all tires worldwide reinforced with Bekaert steel cord. This includes steel cord and bead wire for the tire sector.

* **Steel Wire Solutions:** A wide range of steel wire products for industries such as energy and utilities, mining, construction, agriculture, automotive, and consumer goods.

* **Construction:** Notable products include Dramix® steel fibers for concrete reinforcement, which are used in over 10 million cubic meters of concrete annually and can reduce CO2 emissions in construction projects by 20% to 50% compared to traditional steel solutions. They also offer plastering mesh and steel reinforcement cables.

* **Energy Transition:** Bekaert is a technology leader in solutions supporting the green energy shift, offering products like Currento® porous transport layers for electrolysis technologies and Bezinox® cable armoring for sub-sea power cables from offshore wind farms. They also provide steel and synthetic mooring ropes for floating offshore wind turbines.

* **Fencing Products:** Bekaert Fencing has been an industry leader since 1880, offering a variety of high-quality, corrosion-resistant fencing products made in America, including barbed wire, fixed knot fence, non-climb fence, field fence, and electric & smooth wire.

* **Specialty Businesses:** These encompass solutions for hoses and belts, fiber technologies, heating technologies, ultrafine wire, and hydrogen for energy transition markets.

* **Bridon-Bekaert Ropes Group:** This segment provides steel wire and synthetic ropes for mining, offshore and onshore energy, crane and industrial applications, fishing and marine, and structures. They also develop fine steel cords for elevator and timing belts, and window regulator and heating cords for the automotive sector.

* **Global Presence:** Bekaert operates in over 40 countries with a worldwide manufacturing footprint and sales network, demonstrating a robust international presence across Europe, Middle East, Africa (EMEA), North America, Latin America, and Asia Pacific. The company's headquarters are in Zwevegem, Belgium.

* **Financials and Employees:** In 2023, Bekaert generated consolidated sales of €5.3 billion with approximately 24,000 employees worldwide. Other reports indicate combined sales of €5.1 billion in 2019 and 2022, and €4.0 billion in 2024, with employee numbers ranging from 21,000 to 29,500 across different years.

* **History and Evolution:** Founded in 1880 in Belgium by Leo Leander Bekaert, the company started as a small wire factory producing barbed wire. Over decades, it evolved into a global player, expanding its product lines and becoming vertically integrated.

* **Sustainability Commitment:** Bekaert is deeply committed to sustainability, aiming to accelerate the transition to a net-zero world. Its sustainability strategy focuses on sustainable products, climate action, and a circular economy. The company aims to achieve 50% of its revenue from products supporting a low-carbon economy by 2025 and reduce CO2 emissions by 30% per ton of product by 2030 in its operations. Bekaert was recognized by TIME magazine, in collaboration with Statista, as one of the World's Most Sustainable Companies for 2024.

* **Innovation and R&D:** Bekaert continuously invests in research and development to enhance its product offerings and sustainability initiatives, focusing on advanced technologies for wire and coating solutions. The company also invests in early-stage technology companies through "Bekaert Venturing" to advance or complement its core competencies.

* **Mission:** Bekaert's ambition is to be the leading partner for shaping the way we live and move, always in a way that is safe, smart, and sustainable. They aim to deliver high-value solutions tailored to customer needs, emphasize environmental responsibility, and foster employee development.