To offer Chinese customers locally produced industrial conveyor belts in the future / Acquisition bolsters position in China
Northeim, Germany / Tianjin, PRC, October 18,.2010 - The ContiTech Conveyor Belt Group, Northeim, iacquired the conveyor belt operations of Tianjin Xinbinhai Conveyor Belt Co., Ltd., Tianjin. The relevant agreements were signed in China today. With a workforce of around 200, the company produces mainly conveyor belts for metal and cement processing and other sectors of industry at its plant in Tianjin, a port city situated 120 kilometers southeast of Beijing. "This move gives us a new market in an up-and-coming region and strengthens ContiTech's position in China," says Hans-Jürgen Duensing, general manager of the ContiTech Conveyor Belt Group. "We already manufacture conveyor belts for industrial applications at a number of locations worldwide. Now we can supply the Chinese market with products made right in the country." Both sides have agreed not to disclose the purchase price.
ContiTech has been active in China already for 30 years. It currently produces hose line systems, vibration components, air springs, surface materials, conveyor belts, drive belts an coated fabrics locally at nine modern production plants and is thus able to very successfully serve the needs of automakers, machine and plant engineering and construction, mining, the printing industry, and rail transportation. ContiTech presently has 1,800 employees in China.
ContiTech Buys Tianjin Xinbinhai
ContiTech Buys Chinese Conveyor Belt Manufacturer
To offer Chinese customers locally produced industrial conveyor belts in the future / Acquisition bolsters position in China
Northeim, Germany / Tianjin, PRC, October 18,.2010 - The ContiTech Conveyor Belt Group, Northeim, iacquired the conveyor belt operations of Tianjin Xinbinhai Conveyor Belt Co., Ltd., Tianjin. The relevant agreements were signed in China today. With a workforce of around 200, the company produces mainly conveyor belts for metal and cement processing and other sectors of industry at its plant in Tianjin, a port city situated 120 kilometers southeast of Beijing. "This move gives us a new market in an up-and-coming region and strengthens ContiTech's position in China," says Hans-Jürgen Duensing, general manager of the ContiTech Conveyor Belt Group. "We already manufacture conveyor belts for industrial applications at a number of locations worldwide. Now we can supply the Chinese market with products made right in the country." Both sides have agreed not to disclose the purchase price.
ContiTech has been active in China already for 30 years. It currently produces hose line systems, vibration components, air springs, surface materials, conveyor belts, drive belts an coated fabrics locally at nine modern production plants and is thus able to very successfully serve the needs of automakers, machine and plant engineering and construction, mining, the printing industry, and rail transportation. ContiTech presently has 1,800 employees in China.
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