ContiTech Purchases Conveyor Belt Manufacturer - Strengthens Position in the USA
Conveyor Belt Group acquires Legg Company • New opportunities in the U.S. market • Own production facilities in the NAFTA region
NORTHEIM/HANOVER, Germany, July 2, 2013 /PRNewswire/ -- ContiTech Conveyor Belt Group, Northeim, is expanding its North American business by acquiring the conveyor belt manufacturer Legg Company Inc. based in Halstead, Kansas. Founded in 1964, the company owns modern production facilities and employs approximately 100 people. Production focuses on conveyor belts for industrial applications – e.g. in cement plants, paper mills, the food processing industry, and storage warehouses – as well as special-purpose belts for agricultural machinery.
"This acquisition means that in the future we will have our own production facilities for agricultural and industrial belts in the USA as well as an established sales network in the USA and Canada," says Hans-Jürgen Duensing, head of the ContiTech Conveyor Belt Group business unit. "This supports our expansion in the NAFTA region and supplements our production site in Mexico."
With this acquisition, ContiTech is widening its product range particularly in the fields of harvesters, straw cutters, silicone belts, flat belts, and – in particular – lightweight belts. Closing of the transaction took place on July 1, 2013. Both parties agreed not to disclose the purchase price.
With sales of 32.7 billion euros in 2012, 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 rubber products, Continental contributes to enhanced driving safety and global climate protection. Continental is also an expert partner in networked automobile communication. Continental currently has more than 173,000 employees in 46 countries.
The ContiTech division numbers among the leading suppliers of a host of technical rubber products and is a specialist in plastics technology. The division develops and produces functional parts, components, and systems for the automotive industry and other important industries. ContiTech has a total workforce of approximately 28,000 employees. In 2012, it achieved sales of approximately 3.7 billion euros.
Press releases and photos are available for download at www.contitech.us.
SOURCE ContiTech Conveyor Belt Group
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