The ContiTech Conveyor Belt Group has announced that it will acquire Metso’s industrial conveyor belt operations based in Helsinki, Finland.
Transaction scope
The transaction scope includes a production plant in Kalkku, Finland, where ContiTech will continue to manufacture conveyor belts. ContiTech will also acquire the related sales and service locations in Finland. In total, the German company will take over approximately 130 Metso employees.
The purchase price has not been disclosed.
Strengthens industrial conveyor business
"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 optimizing the structure of our production sites," said 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.
Adapted from press release by Jonathan Rowland