Due to tight market conditions, Belgian firm Bekaert says it has signed a preliminary agreement with Nuova Icom, a Sardinian industrial engineering and metalworking company, to revive its Macchiareddu site in Sardinia (Italy).
The preliminary agreement signed with Nuova Icom provides for the transfer of Bekaert’s Macchiareddu site as well as the reemployment of Bekaert employees at the site, in accordance with the terms and conditions set out in the agreement.
Over recent years, it adds that structural changes in the tyre industry have affected market demand and the competitive position of Bekaert’s tyre reinforcement site in Sardinia.
As a result, production activity at the site has progressively declined and tyre cord production is no longer viable under current market conditions.
The agreement is the result of a process in which Bekaert has proactively explored solutions that could provide a sustainable future for the site while supporting employment continuity in the region.
Bekaert says the transaction is anticipated to close in October 2026, subject to the completion of the consultation process and customary conditions.