Manufacturer completes merger creating £430m business
A 430M rope and wire manufacturer will begin operating today following the merger of two big players in the market.
The Bridon-Bekaert Group will employ 2,500 people in 17 countries.
It was announced in December 2015 that Doncaster-headquartered Bridon was merging with the group.
The Ontario Teachers’ Pension Plan, which bought Bridon in a £365m deal 14 months ago, will own one-third of the new group with Bekaert holding the remaining two-thirds.
The new Bridon-Bekaert CEO Bruno Humblet, said: “We are delighted to announce that the merger is now complete. The new group combines Bekaert’s existing strength in the regions of Americas and Australia and Bridon’s strong market position in Europe and the USA.”
Bridon can trace its roots back to the 18th century, and it was officially founded in 1924. It will contribute 60% of the revenue to the newly formed business.
It has three UK manufacturing sites at Doncaster, Newcastle and Coatbridge, near Glasgow, with 11 sites worldwide.
