On Wednesday, October 21st, according to Bloomberg, Belgian company Bekaert is considering various options for its business in China, including spinning off its manufacturing plants.
Bekaert, established in 1880, is a global technology company with over 140 years of expertise in steel wire transformation and coating technologies. Its main focus is on steel wire transformation and coatings.
Reports citing sources familiar with the matter reveal that Bekaert is collaborating with consultants to explore potential transaction options for selling these assets, with estimates valuing the assets in the range of several billion US dollars. Due to the nature of the discussions being internal, the sources have requested anonymity.
The sources further indicate that the Belgian company may also seek to bring in local strategic partners to help increase production capacity and reduce costs.
Regardless of the eventual outcome, it signifies another multinational company attempting to reassess its business operations in China.
On Wednesday, Bekaert’s stock price in Brussels surged by 4.9% at one point, marking the largest single-day gain since May. As of 11:57 am local time, the stock had risen by 2.3%, with the company’s market value standing at approximately 2 billion euros.
Sources state that discussions regarding the business in China are still at an early stage and may not ultimately materialize as a deal.
A spokesperson for Bekaert mentioned that the company will continue to seek the best path forward to maintain and enhance its positions of technological and manufacturing leadership across its various businesses.
Bekaert stated, “We have clearly communicated in our dialogue that we are committed to enhancing company value, optimizing our business portfolio, and retaining a leading position in our core business.”
Bekaert entered the Chinese market in the 1990s, with China being its second-largest market after the United States.
According to the company’s website, Bekaert has branches in seven cities in China, with 13 production sites, one research center, two trading companies, and an Asian headquarters.
The company’s annual report indicates that in 2025, Bekaert’s sales in China amounted to 711 million euros, accounting for 19% of the company’s total revenue.