January
On 20 January 2010 Dmitry Medvedev, President of the Russian Federation, and three Deputy Prime Ministers visit the new Bekaert steel cord plant at the Lipetsk Special Economic Zone (SEZ). They are welcomed by Bert De Graeve, Chief Executive Officer of Bekaert. On the same day the Bekaert Management organizes an inauguration event to which it invites its main customers and suppliers in the region.
February
To strengthen Bekaert's position in the tire cord market, Bekaert and Bridgestone sign on 1 February 2010 an agreement for the purchase by Bekaert of BMI, Sardinia (Italy) and BSSH, Huizhou (Guangdong Province, China). The share deal includes all the personnel and assets of the two manufacturing sites. As part of this transaction, Bekaert and Bridgestone enter into a long-term supply agreement of tire cord to Bridgestone.
Bekaert’s 2009 annual results show sustained profitability. Bekaert has demonstrated that its solid strategy also proves effective in a difficult economic environment.
March
On 24 March 2010, Bekaert celebrates the opening of its new technical center in Ranjangaon, near Pune (India). The Bekaert India Technical Center will support Bekaert’s customers in India with enhanced technical services in the form of product quality testing, technical assessments and related dedicated assistance. The official inauguration ceremony takes place in the presence of Their Royal Highnesses Prince Philippe and Princess Mathilde of Belgium.
Bekaert launches a global fund-raising initiative throughout the company to help its Chilean employees whose houses have been damaged by the violent earthquake of 27 February 2010. The initiative to help finance the reconstruction and refurbishing of the employees’ houses is later expanded to support Indonesian colleagues affected by the devastating floods in the Karawang area. Overall, € 550 000 was collected, enough to cover all the costs incurred by the 267 affected employees. A true illustration of what better together stands for.
On 24 March 2010 Their Royal Highnesses Prince Philippe and Princess Mathilde of Belgium inaugurated the new Bekaert Technical center in Ranjangaon (India).
April
On 20 April 2010 Bekaert opens the new Bekaert Asia Research and Development Center in Jiangyin, Jiangsu Province (China). Next to the Technology Center in Belgium, it is Bekaert’s second R&D Center in the world. The new eight-story, state-of-the-art facility employs over 350 researchers and laboratory technicians. It is equipped to provide fast and appropriate support to Bekaert's customers and operations in a wide range of activities.
At the opening ceremony of the new Bekaert Asia Research and Development Center, the local government of Jiangyin city conveyed its appreciation for Bekaert’s R&D investments.
May
On 29 May 2010 Baron Velge, Honorary Chairman of Bekaert, passes away at the age of 80. The late Jean-Charles Velge, grandson of Bekaert founder Leo Leander Bekaert, joined Bekaert in 1957 to take on various operational responsibilities. He held the positions of President and Chief Executive Officer from 1985 until 1997. Baron Velge was highly respected and esteemed in Belgium and abroad.
June
Bekaert welcomes its Board members, customers, suppliers and other key business partners at the Bekaert Day in the Belgian Pavilion of the Shanghai World Expo.
July
The Bekaert 2010 half year results show a record performance in volatile markets, reflecting strong volume growth in all regions. In the first half of 2010, Bekaert achieved consolidated sales of
€ 1.5 billion and combined sales of € 2.1 billion, a year-on-year increase of 27.9% and 30.8% respectively. Bekaert believes it can raise the EBIT margin target to 10% or higher for the next three years. The Board announces the decision to propose the distribution of an intermediate dividend of € 2 per share (pre-split) and a three-for-one share split.