20.10.2010 | Editor: Marcel Dröttboom
Northeim, Germany – The ContiTech Conveyor Belt Group, Northeim, has announced that it is acquiring the conveyor belt operations of Tianjin Xinbinhai Conveyor Belt, Tianjin. The relevant agreements were signed in China on October 18, 2010.
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 kilometres 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 1800 employees in China.
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