The ContiTech Conveyor Belt Group, Northeim, is acquiring
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.