Actuality January 21, 2008

   Belgian Group Bekaert, which in 2007 refused to acquire Magnitogorsk "Uralcord", Closed JSC, declared that it will construct own plant of metal cord production in the special economic zone of industrial and production type in Lipetsk.

   The company, which is the second largest world manufacturer of steel wire and the largest of metal cord, plans to invest gradually more than €97 mln in the project within 2008-2013. The first stage of the enterprise should begin production in 2010. Bekaert considers, that making production in Russia will allow it to supply the growing demand for steel cord from the Russian manufacturers of car tires, many of which have already become the company clients. Now production from enterprises of Bekaert in the Central Europe is delivered to Russia.

   The company works in 120 countries of the world, annual production sales are more than €3 bln a year. For a long time Bekaert carried on negotiations on acquisition of "Uralcord", Closed JSC, which produces bead wire and metal cord on the basis of Magnitogorsk calibration plant, however, as a result the parties have not made a bargain.
Official opening of the special economic zone "Lipetsk" took place on January 25th, 2008, despite the fact that in special economic zone two enterprises are already working and three are being constructed.