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Both sides have agreed not to disclose the purchase price. Transfer of the business is scheduled for Q4 2013.
Relating documents have been signed by both parties, and the transaction scope includes a production plant in Kalkku, Finland, where ContiTech will continue to manufacture conveyor belts for the use in areas such as quarries, the ore industry, in-factory transport as well as the paper and food industry.
ContiTech also acquires the related sales and service locations in Finland.
In total ContiTech will take over approximately 130 Metso employees.
“The acquisition strengthens ContiTech´s industrial business and is the perfect complement to the Conveyor Belt Group's current range of industrial conveyor belts and special belts. Furthermore, we are also improving our market presence in northern Europe and optimising the structure of our production sites,”
says Hans-Jürgen Duensing, head of the ContiTech Conveyor Belt Group business unit.
“Our objective is to continue and further develop activities at the plant in Finland and gain access to new customer groups in the Scandinavian markets.”
In 2010, ContiTech took over business activities involving Flexowell and Pocketlift conveyor belts from Metso and has since then successfully expanded business in this area.
