Fairlawn, Ohio -- Veyance Technologies Inc. is exploring the possible sale of its Belt Concepts of America lightweight conveyor belt subsidiary to focus on its heavy duty belt operation.
Belt Concepts employs about 60 at its manufacturing plant and offices in Spring Hope, North Carolina. It has annual sales of more than $22 million and services the food harvesting and processing, package and retail grocery handling, and exercise equipment industries.
The subsidiary is healthy and has a strong work force, good products and a solid customer base, according to Tim Toppen, CEO and president of Veyance.
However, the company has been building its heavy duty business, he said, by adding a conveyor belt fabric plant and a belt service operation, both located in the US It also created a large joint venture in China. Veyance wants to concentrate on building that operation further, he said.
From Rubber & Plastics News (A Crain publication)