Sint-Truiden based gear manufacturer VCST was taken over by the BMT industrial group. BMT plans to merge the company with its subsidiary IG Watteeuw (IGW) located in Bruges and which also makes gears. Together, VCST and IGW will be a world leader in the field of gears.
VCST is a global player in the supply of precision gears and other critical components for the engines, transmissions and brake systems of passenger cars and commercial vehicles. The company has a diversified portfolio of blue-chip customers, including Audi, Caterpillar, Continental, Cummins, DAF, General Motors, Punch Powertrain, Volkswagen, and many more.
Worldwide, the company has five plants (Belgium, China, Germany, Mexico and Romania), in which it invested more than 50 million euro over the past three years. VCST also has an extensive engineering capacity in-house (120 engineers), which gives the company a strong edge when it comes to product development, innovation and carrying out projects. With its 1,250 (full-time) employees, the company generated a turnover of 169 million euro in 2015, which is almost double that of 2009.
The acquisition by the BMT international industrial group heralds an important new phase for VCST. The company will be merged into one division with BMT subsidiary IG Watteeuw (IGW) which operates in the more industrial applications of the gear market (transport, energy and industry).
In addition to the complementary nature of their activities, the combination will also be less dependent on the evolution of one particular customer segment. Moreover, by joining forces, both companies are strengthening their position not only in Europe (Belgium, Germany, Romania, Czech Republic), but also worldwide (China, India, Mexico, United States). Together, VCST and IGW represent a turnover of nearly 300 million euro with a total workforce of 2,750 employees.
The acquisition is subject to the usual conditions, including approval by the competition authorities.