Belt maker Habasit purchases Summa

Suwanee, Georgia - Recently formed Habasit Holding USA Inc. has completed the acquisition of Summa Industries Inc.

Summa, a plastic belt maker based in Torrance, California, will become a wholly owned company of Habasit and will operate under Habasit Holding USA name.

Summa Industries is made up of Spectrus Inc., Aquarius Brands Inc. and KVP Inc. About 615 are employed at the three companies.

The move strengthens the Habasit group of companies' position as a modular belt maker, the firm said. The group of companies, which primarily produce rubber and urethane belts, is headed up by Switzerland-headquartered Habasit AG The company said the acquisition makes it the second largest producer of modular belts globally.

From Rubber & Plastics News (A Crain publication)