Bekaert in deal with Italian firm to divest Sardinia tire cord plant

Bekaert has signed a preliminary agreement with Italian company Nuova Icom to divest its Macchiareddu tire cord plant in Sardinia, Italy. The deal includes the transfer of the site and the reemployment of Bekaert employees. The move comes as a result of structural changes in the tire industry that have affected market demand and the competitive position of the Macchiareddu site. Production at the site has declined, and tire cord production is no longer viable under current market conditions. The transaction is expected to close in October 2026, subject to the completion of the consultation process and customary conditions.