Tazewell, Virginia -- Veyance Technologies Inc. has purchased Virginia-based Monk Mining Supply and the assets of subsidiary Millennium Vulcanizing for an undisclosed amount to expand its conveyor belt operation with the addition of installation, splice and repair services.
Monk Mining, which will retain its name, is a regional conveyor belt sales company while Millennium is a conveyor belt service provider. MillenniumÂ´s name will be changed to Veyance Industrial Services.
Bret Hall, VeyanceÂ´s general manager of industrial services, said the deal was made because the firmÂ´s customers wanted it to integrate more services into its operation. The acquisitions make Veyance a one-stop, total solution provider of conveyor belts for central Appalachian coal producers, he said.
From Tire Business (A Crain publication)