14.04.2010 News: ContiTech to Buy Special Belt Operations
ContiTech Transportbandsysteme GmbH, Northeim, is expanding its position in the market and is taking over the Moers plant of Metso Minerals (Deutschland) GmbH, Bochum. Around 60 employees at the plant, which is part of the Finnish Metso group, manufacture Flexowell and Pocketlift conveyor belts, which are primarily used in the mining, chemical and steel industries to transport loose bulk material up steep inclines.
"By doing this we are globally opening up additional markets for ContiTech and are developing our capacities for special conveyor belts", Hans-Jürgen Duensing said, head of the ContiTech Conveyor Belt Group business unit. "The purchase represents the acquisition of additional know-how and numerous special belt patents for ContiTech. This consolidates our market position.“
ContiTech will continue manufacturing and engineering at the Moers plant. Both sides have agreed not to disclose the purchase price. The transfer of business is planned for May 1, 2010.
With sales of approximately €20 billion in 2009 Continental is among the leading automotive suppliers worldwide. As a supplier of brake systems, systems and components for powertrains and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers, Continental contributes to enhanced driving safety and global climate protection. Continental is also a competent partner in networked automobile communication. Continental currently employs approximately 134,500 in 46 countries. The ContiTech division holds a global market leadership position for many non-tire rubber products and is a specialist in plastics technology in the non-tire rubber sector. The division develops and produces functional parts, components and systems for the automotive industry and other important industries. The division has a workforce of approximately 22,000 employees. In 2009, ContiTech reported sales in the order of €2.4 billion.
ContiTech AG
Vahrenwalder Strasse 9 I 30165 Hanover I Germany
T +49 (0) 51 19 38 13 04 I F +49 (0) 51 19 38 13 05
mario.toepfer@contitech.de I www.contitech.de
