GEELONG, Australia (Aug. 24) — Partners N.V. Bekaert S.A. and OneSteel Pty. Ltd. have decided to close their joint-venture steel cord plant in Geelong, near Melbourne.
The Bekaert Australia Steel Cord Pty. Ltd. facility — the joint venture's only factory — will shut down by the end of the year, following a review of the factory's prospects and sourcing alternatives, Bekaert said. The company didn't give details on how it made the decision, which will cost 74 employees their jobs.
The facility supplies steel cords and hose wires to tire and hydraulic hose manufacturers in Australia, New Zealand and Southeast Asia.