ContiTech buys special-purpose belt company
First publishedon www.AggBusiness.com
ContiTech has strengthened its industrial business in specialised conveyor belts by buying Specialised Belting Supplies of Thetford, County Norfolk, eastern England.
The company, which has with 50 employees, has been in the market since 1984 and produces primarily steep-angle conveyor belts for the transport of bulk materials including ore, coal or gravel.
“The purchase of this profitable and established company is strategically important and opens additional opportunities for us in the growing worldwide market of steep inclined and vertical conveying,” said Hans-Jürgen Duensing, business unit manager of the ContiTech Conveyor Belt Group based in Northeim, Germany.
“We are not just taking over the business operations, but the production as well and want to further expand it. We also have for the future the new production technology to produce particularly temperature resistant corrugated sidewall belts.”
Both sides have agreed not to disclose the purchase price. In the future, the current company director Peter Lord will remain in the company as brand manager and so ensure the continuity in customer relations.