Bekaert buys Shell out of combustion JV

Kortrijk, Belgium -- Bekaert and Belgian Shell have reached an agreement on the purchase of the 25 percent stake held by Belgian Shell in the Bekaert Combustion Technology NV joint venture, which means that Bekaert becomes 100 percent shareholder. The takeover price is € 13.5 million.

The company says it has developed a position as the leading provider of environment-friendly gas burners for condensation boilers in household applications such as home heating. The company is taking full advantage of the ever stricter environmental legislation in Europe and in the United States. Recently a new generation of burners which are very compact has been introduced. They are also flexible, as they have adjustable power and can operate with various qualities of gas. These progressive developments emanate from the partnerships that Bekaert has developed with its customers in the heating installations sector.