![\"bridon\"](\"http:\/\/www.bnmme.com.au\/wp-content\/uploads\/2015\/12\/bridon.jpg\")
Two of the world\u2019s largest wire rope manufacturers \u2013 Bridon and Bekaert \u2013 have announced plans to merge.<\/p>\nTwo of the world\u2019s largest wire rope manufacturers \u2013 Bridon and Bekaert \u2013 have announced plans to merge.<\/p>\n
Bekaert and Bridon\u2019s owner Ontario Teachers\u2019 Pension Plan (OTPP), have reached an agreement to establish Bridon Bekaert Ropes Group, with Bekaert holding a 67 share in the business and OTPP the remainder.<\/p>\n
The new business is predicted to generate around 600 million Euro in business annually.<\/p>\n
\u201cThe new group will combine the ropes and advanced cords capabilities of almost 3 000 employees, 19 manufacturing entities across 11 countries, market-focused R&D, and a global sales and service network,\u201d Bekaert explained.<\/p>\n
\u201cThe intended combination will leverage the scale and complementary strengths of Bekaert and Bridon and will pursue value creation for customers and for the new group.<\/p>\n
\u201cBekaert is contributing its advanced cords business and a well-established ropes presence in Latin America, Canada and Australia.\u201d<\/p>\n
The merger will also look at new growth opportunities in Asia, Bridon stated.<\/p>\n
The transaction will have a cash-neutral impact on the two businesses, with the agreement set to be finalised in the first half of next year, however until that point the two businesses will continue to operate separately.<\/p>\n","protected":false},"excerpt":{"rendered":"