ContiTech buys Serbian conveyor company

Panorama

Publishing Date: 09 Apr 2009 3:46pm GMT
Author: Mining Magazine

Processing Crushing & Conveying

ContiTech Conveyor Belt Group, Northeim, has announced the purchase of Serbian conveyor belt manufacturer, Univerzal Kolubara d.o.o. Headquartered in Veliki Crljeni, to the south of Belgrade, Univerzal currently makes conveyor belts for the local mining market and employs around 250 people. The acquisition was concluded on April 6, 2009, and is thought to have cost in excess of €1M.

Heinz-Gerhard Wente, a member of the ContiTech AG Executive Board commented: "This is an important building block in our strategy of establishing a firmer foothold on the Eastern European market. At the same time it guarantees us a stable base for expanding business outside the automotive industry."

ContiTech intends to invest in production at Univerzal's plant to help meet its mining client's demand for conveyor belts. "This plant gives us an excellent base in a region rich in lignite coal. Following the purchase of Matador in Slovakia, the merger with Kolubara provides us the wherewithal to be successful in Eastern Europe," explained Hans-Jürgen Duensing, head of the ContiTech Conveyor Belt Group business unit.