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Bekaert announces plans to expand its existing operations in Russia

7/12/21  Bekaert announced that it will expand the company’s plant in Lipetsk, Russia, investing approximately $24 million to add a new production line for bead wire and to increase its current tire cord manufacturing capacity.

A press release said that the Lipetsk plant produces steel cord for the tire industry and Dramix® fibers for construction markets. The bead wire line will allow the company to make a full range of products for the reinforcement of tires. The projects are expected to create 80 new jobs. The production start of the plant extension is planned for the first half of 2022.

The news was announced at the St. Petersburg International Economic Forum (SPIEF ‘21). “This expansion will help the Bekaert Lipetsk team to continue to deliver superior value to their customers and to contribute to the customers’ growth ambitions in the region and the wider CIS, as well as to become an export platform to the European region,” the release said.

In January 2008, Bekaert first announced that it would strengthen its existing position in Russia by investing more than €97 million in a new steel cord production plant in the Lipetsk Special Economic Zone. At the time, Bekaert already had a portfolio of customers in Russia for steel cord products for tire reinforcement, steel fibers for concrete reinforcement and other specialized wire products, but they were being supplied by its plants in Central Europe. With the first phase, first production was scheduled to start in 2010, with other work phased in through 2013.

The Lipetsk plant, which serves customers in Russia and the wider CIS region, is about 400 km south of Moscow. Bekaert has also had a sales office in Moscow since 1998, that serves a portfolio of customers with a wide variety of advanced steel wire products.

Read 1340 times Last modified on July 12, 2021