KORTRIJK, Belgium (Nov. 7, 2008)—N.V. Bekaert S.A. saw strong sales growth in the first nine months, including an 80 percent jump in its steel cord unit in China.
The increase is based primarily on higher selling prices, driven up by raw materials price increases.
Sales of steel cord in regions other than China increased by 3 percent, suggesting lower volumes in Europe and North America, albeit at higher prices.
The advanced wire business, which includes Bekaert's steel cord and bead wire businesses saw consolidated sales grow by 34 percent to $2.3 billion in the first nine months, while combined sales rose by 27 percent to $3.7 billion.
The company did not release profit figures.