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Valentina R., lawyer
Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
On May 8, 2012, NV Bekaert SA (“Bekaert”), a company headquartered in Zwevegem, Belgium, and Southern Steel Berhad (“Southern Steel”), a subsidiary to Hong Leong Company (Malaysia) Berhad (the “Hong Leong Group”), signed an agreement to create a joint venture in Singapore that will be active in the manufacture and sale of steel wire in the ASEAN Region.
Bekaert is a global company that produces and markets a wide range of products in the areas of drawn steel wire, advanced metal transformation, and advanced materials and coatings.
Southern Steel is a Malaysian company whose main activities are manufacturing of, sales and trading in steel products. Southern Steel is a subsidiary of the Hong Leong Group, a large private sector conglomerate whose core businesses include property development, hotel ownership and management, finance, and manufacturing of industrial and building materials.
The Joint Venture will combine Bekaert‟s and Southern Steel‟s existing complementary production capacity and product ranges of steel wire in the ASEAN Region. By contributing some of their Asian production facilities and personnel to a joint venture, Bekaert and Southern Steel expects to be more competitive and able to provide greater value to customers of steel wire.