Bekaert and Belgian Shell have reached an agreement on the purchase of the 25 percent stake held by Belgian Shell in the Bekaert Combustion Technology NV joint venture, which means that Bekaert becomes 100 percent shareholder. The takeover price is € 13.5 million.
At the end of the 1980s, Bekaert and Belgian Shell jointly began to develop environmentally friendly burners based on Bekaert's metal fiber technologies. These gas burners are used in both industrial and residential applications. They offer a higher yield, lower consumption and limit the emission of harmful gases.
Bekaert now wishes to further implement its growth strategy in combustion technologies and so will operate as 100 percent shareholder. With annual sales of € 50 million, this platform is part of the advanced materials business segment.