Posted to News on 18th Jun 2012, 09:47
ContiTech buys British special-purpose belt company
ContiTech is strengthening its industrial business in specialised conveyor belts by purchasing Specialised Belting Supplies Ltd, Thetford. This British company has been in the market since 1984 and, with 50 employees, produces primarily steep-angle conveyor belts for the transport of bulk materials including ore, coal or gravel.
Hans-Jrgen Duensing, business unit manager of the ContiTech Conveyor Belt Group, based in Northeim, Germany, says: "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. 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 new production technology, particularly to produce temperature-resistant corrugated sidewall belts."
Both sides have agreed not to disclose the purchase price. The UK production site will be retained, and current company director Peter Lord will remain in the company as brand manager, and so ensure continuity in customer relations.
For more information about specialised steep-angle conveyor belts, please visit the website at www.contitech.de.
