Bekaert Almasa Steel Wire Merger in Colombia
Bekaert (bekaert.com) and Almasa SA agreed to merge Proalco SAS, a Bekaert subsidiary, with Almasaโs steel wire activities in Colombia. The Bekaert Almasa steel wire merger creates a stronger platform for steel wire products and solutions in both domestic and export markets.
Combining Expertise and Expanding Steel Wire Solutions
The partners plan to create value by combining their steel wire expertise, production capacity, and commercial reach. Together, they will offer existing and new steel wire products and solutions to customers in Colombia and abroad. As a result, they will sharpen their focus on quality, service, and innovation.
Strategic Manufacturing Footprint and Mattress Wire Supply
Both companies operate manufacturing sites in central Colombia and on the Atlantic coast. This footprint supports employment, improves logistics, and opens additional export opportunities. In addition, the merger secures upholstery steel wire supply for Agro-Bekaert Colombia SAS, Bekaertโs mattress spring systems joint venture in Malambo, Atlรกntico.
Ownership Structure and Financial Scale
After the merger, Bekaert Ideal Holdingโin which Bekaert holds 80% of the sharesโand Almasa SA will each own 50% of Proalco SAS. Proalco SAS generated โฌ65 million in revenue in 2019, so the combined business starts with a solid financial base for future steel wire growth.
