Bekaert NV/SA

Bekaert and American Spring Wire announce License Agreement


Bekaert and American Spring Wire (ASW) jointly announce today that they will work together to supply engine valve spring quality (VSQ) wires to Asian markets. Last month, the companies entered into a Definitive License Agreement establishing the terms of a technology transfer to Bekaert’s Jiangyin wire plant located in China’s Jiangsu Province. ASW will provide Bekaert technical assistance in the design and installation of equipment, as well as process knowledge and commercial support to develop the VSQ wire markets throughout Asia, China and India in particular. The agreement specifically identifies the licensed technologies, products and territories targeted by the partnership. In addition, it establishes ASW as Bekaert’s representative for VSQ wires sold in North America.

The new VSQ wire line in Bekaert’s Jiangyin wire plant will be modeled after ASW’s US operation located in Bedford Heights, Ohio. Both partners believe the new capacity will produce the first qualification coils in the course of the second half of 2012. Engineers from both companies will be working together to assure that a thorough transfer of technology takes place.

Henri-Jean Velge, Bekaert Group Executive Vice President Wire: “engine valve spring quality wires complement Bekaert’s product offering in automotive spring wire. We are pleased to be working with ASW, who is an established manufacturer of the product. We look forward to serving the fast growing need for these wires in Asia.”

Timothy W. Selhorst, President and CEO of ASW expressed his enthusiasm for the new venture. “I’m proud of ASW’s history and knowledge in valve spring wire. The quality of the wires we produce sets the standard in the world, and the manufacturing equipment and processes we use are modern and innovative. We are pleased to be teamed with Bekaert’s international knowledge and presence, and look forward to soon positioning Bekaert’s Jiangyin plant to offer these products to the fastest developing markets in the world.”