Bekaert cuts over 200 jobs in Belgium
“Dramix's Moena plant in Belgium is unable to remain competitive with current pricing trends in EMEA,” the company, which employs approximately 1,900 people in Belgium, said in a statement.
Dramix is a manufacturer of Bekaert fiber-reinforced concrete reinforcement made of three different types of fibers.
In a statement, the market for steel fibers for concrete reinforcement has become "much tougher" as competitors have moved their manufacturing operations to Central Europe to reduce costs and supply their fibers from low-cost countries.
The restructuring in Belgium also involves the relocation of certain activities to lower-cost countries such as the Czech Republic, where the company plans to expand its production capacity, and Slovakia, where it plans to relocate its spare parts production.
In early March, Bekaert announced a decline in its 2018 operating results due to slower sales and shrinking industrial steel wire markets.