Fairlawn, Ohio -- Veyance Technologies Inc. plans to purchase National Belt Service to broaden its conveyor belt installation, splice and repair service footprint.
The acquisition, the second service belt business the company has made this year, will include NBS' operations in Bessemer, Alabama; Wheeling and Charleston, West Virginia; and Atlanta.
NBS employs about 75 people, has annual revenues of about $20 million (Euro 12.8 million) and primarily supports coal producers.
Veyance will have the ability to provide services throughout the US and Canada once the deal is closed, according to Bret Hall, general manager of industrial services for Veyance, the exclusive manufacturer and marketer of Goodyear engineered products.
In February, the company bought Monk Mining Supply, a coal mining conveyor belt service company headquartered in Tazewell, Virginia.
â€œOur expanding presence in services helps us provide our distributors and their customers with value-added support,â€ Hall said. â€œThis acquisition gives us a more comprehensive conveyor belt solution for end users.â€
Involvement in more facets of conveyor systems gives the company additional expertise that accelerates its product development and technology, he said.
From Rubber & Plastics News (A Crain publication)