German-based Rema Tip Top continues to pursue its global growth strategy and gain further ground to become the industry’s leader in the Australian market through its latest acquisition of a majority interest in the Australian company ConvaTech.
Rema Tip Top is a globally operating system provider of services and products in the field of conveying and treatment technology as well as in the automotive sector.
Subsequent to this acquisition, Rema will increase its customer base and be present across Australia. Together, Rema Tip Top and ConvaTech will form one of the largest conveyor service organisations on the resource-rich continent.
"We want to become the service provider number one for the Australian mining industry," said Thorsten Wach, CEO of Rema Tip Top. "By acquiring the majority interest in ConvaTech, we have taken a significant step to become the market leader in Australia and we have found an ideal partner to further pursue this path. We now have a strong presence in Eastern and Western Australia."
In almost 100 years of corporate history, Rema has gained strong expertise in material development and industrial services in the field of conveying and treatment technology as well as in the automotive sector and thereby reached a strong position in the global market.
The company’s focus is on increasing system availability with long service lifetimes – goals that are ideally aligned with those of ConvaTech. ConvaTech is well known as one of the premier conveyor maintenance businesses in Australia and generated sales of AUD 90 million in the past financial year. According to REMA, the joint organisation is perfectly positioned to meet the rising expectations of its customers.
"We knew Rema Tip Top as a strong competitor, and we also recognise our own mentality in their high quality standards," explained ConvaTech CEO Gav Houston, who, together with Rema Tip Top, will drive the strategic development of the Australian business. "Together we are well positioned for the future and ready to have an even stronger market presence."
Following the acquisition of the majority interest, ConvaTech will continue to exist as an independent company. It is expected that existing customers will benefit from the new and strong capabilities of the joint and growing business.
Edited from press release by Harleigh Hobbs
Read the article online at: https://www.worldcoal.com/mining/20052016/rema-tip-top-acquires-majority-interest-in-convatech-820/