NEWS

WIRES

OTHER

Goodyear Engineered Products Manufacturer Acquires Brazil's Leading Conveyor Belt Service Company

Veyance Technologies, Inc., has bought RCT Servicos de Vulcanizacao Ltda., based inBelo Horizonte about 600 kilometers or 350 miles north ofSao Paulo, subject to regulatory approval.

RCT isBrazil's leading conveyor belt service provider with several operations and more than 300 associates in the country's northern and southeastern regions. It will continue to use its name and provide conveyor belt installation, splicing, monitoring and repair services.

Goodyear-branded conveyor belts are the market leader inBrazil andLatin America.

Bringing together the region's leading conveyor belt supplier and service provider gives Veyance significant growth opportunities inLatin America, according to Renaldo Calderini, Veyance's vice president and general manager forLatin America. "The company will use the dual offerings to enter other markets," he said.

Calderini said the acquisition helps provide its distributors and their customers with comprehensive conveyor belt support. "The service complements our technologically-advanced conveyor belt products, splice kits and monitoring systems."

This is the third conveyor belt service acquisition announced by Veyance this year, includingNorth America's Monk Mining Supply based inVirginia and National Belt Service based inAlabama that cover U.S. andCanada coal industry needs.

RCT has operated for more than 17 years. Previous owners Arthur Sternick and Marcio Alves de Oliveira will remain with the organization to ensure consistency of customer support.

Veyance's mining industry support reaches back to the first Goodyear-branded conveyor belt produced in 1913. It operatesBrazil, Chili, U.S.,Canada,South Africa andAustralia conveyor belt plants; recently formed Shandong Aneng Conveyor Belt & Rubber Co. -China's leading conveyor belt manufacturer; and recently acquired a U.S. conveyor belt fabric business.

In addition, an $18 million expansion underway at itsMarysville, Ohio, heavy-duty conveyor belt plant adds new process technology and equipment.

Veyance Technologies has 35 manufacturing facilities worldwide and employs 9,000 associates. Along with conveyor belts, Veyance manufactures and markets Goodyear-branded industrial and automotive products, including industrial and hydraulic hose, power transmission belts, rubber track, air springs and tensioners, as well as metal sprockets, fittings and couplings.

SOURCE Veyance Technologies, Inc.