Poing, Germany – Rema Tip Top has fully acquired the Cobra Group/Depreux, a manufacturer of conveyor belts and accessories for the mining, food, agricultural, packaging and logistics sectors.
The purchase, said the German company on 12 Sept, will allow Rema Tip Top to further strengthen its conveyor technology business.
“Now, we are focusing on stabilising our position among the top three in the field of conveyor technology,” said Thorsten Wach, CEO of Rema Tip Top.
In June 2015, Rema Tip Top said it had acquired “a significant interest” in Cobra Group but did not specify the details of the agreement.
“We are ahead in the conveyor technology sub-area wear protection. The complete takeover of the Cobra group now further increases our capacities in the area of conveyor belts,” Wach added.
Cobra, he noted, will continue to act independently in the market, directly addressing service providers.
Rema Tip Top said it would invest into the expansion of Cobra’s production capacities and the modernisation and extension of the distribution network.
Headquartered in Luxeuil-les-Bains in France, the Cobra group operates production sites in Poland, France and China.
In the past fiscal year, the company employing 500 people generated sales of approximately $100 million.