Belgium's Bekaert announced that it sold its steel wire businesses in Chile and Peru

Bekaert, which has sold its steel wire businesses in Chile and Peru to its existing partners, announced that it will generate a net profit of $136 million from the transaction, which is expected to be completed this year.

Bekaert, which currently owns 52% of Chilean companies and 38% of Peruvian companies, will develop its investment plans for further growth in line with its strategy with the earnings from the sale.