Bekaert Corporation goes right down to the wire on a daily basis. The company, the US subsidiary of Belgium-based NV Bekaert SA, manufactures a variety of wire, and wire and film coatings. For automobiles, Bekaert makes tire cord, control cables, spring wire, and clips. It also produces high carbon, low carbon, and stainless steel wire for industrial applications. Other Bekaert products include telecom and power cables, agricultural fencing material, and sawing cable. North America represents approximately 20% of its parent company's revenues.
After disappointing results in 2009, the company took cost-cutting actions and discontinued operations at its Mississippi plant and consolidated those activities at its plant in Georgia. Bekaert continued on this path in 2010, when it closed its Vista, California progressive composites plant. Additionally, parent NV Bekaert sold its specialty films division, including a facility in San Diego, to a subsidiary of Saint-Gobain in 2011.
These moves may have been the difference for 2010, as sales for the North American division rose 64% over 2009. The increase can also be attributed to both the continued strength of industrial and agricultural markets and the rebound of the US automotive industry. – less