ContiTech Takes Over Chinese Conveyor Belt Maker on June 1, 2011

Acquisition bolsters position in Middle Kingdom / Plant to be expanded further / Industrial conveyor belts from local production in the future

Northeim/Tianjin, (PresseBox) - ContiTech is beefing up its position in China: On June 1, 2011, the Northeim, Germany-based ContiTech Conveyor Belt Group takes over the conveyor belt operations of Tianjin Xinbinhai Conveyor Belt Co., Ltd., Tianjin. On May 28, 2011 Claus Peter Spille, head of the mining world segment, and Dr. Hongbin Dong, the future general manager of Tianjin Xinbinhai Conveyor Belt, signed the contracts closing the deal with the local sellers. Both sides have agreed not to disclose the purchase price.

"This move gives us a new market in an up-and-coming region and strengthens ContiTech's position in China," says Hans-Jürgen Duensing, general manager of the ContiTech Conveyor Belt Group. "We already manufacture conveyor belts for industrial applications at a number of locations worldwide. Now we can supply the Chinese market with products made right in the country. We are set to further expand the plant."

Situated in the port city of Tianjin, 120 kilometers southeast of Beijing, the plant produces mainly conveyor belts for metal and cement processing and mining, as well as for power plants, port operations and the automotive industry. It has a workforce of around 150.

ContiTech has been active in China already for 30 years. ContiTech currently produces hose line systems, vibration components, air springs, surface materials, conveyor belts, drive belts, coated fabrics and other components and systems locally at nine modern production plants. It is thus able to very successfully serve the needs of automakers, machine and plant engineering and construction, mining, the printing industry, and rail transportation. ContiTech presently has 2.100 employees in China.

ContiTech Antriebssysteme GmbH

With sales of €26 billion in 2010, Continental is among the leading automotive suppliers worldwide. As a supplier of brake systems, systems and components for powertrains and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers, Continental contributes to enhanced driving safety and global climate protection. Continental is also an expert partner in networked automobile communication. Continental currently has approximately 155,000 employees in 45 countries.

The ContiTech division holds a global market leadership position for many non-tire rubber products and is a specialist in plastics technology in the non-tire rubber sector. The division develops and produces functional parts, components and systems for the automotive industry and other important industries. The division has a workforce of approximately 26,000 employees. In 2010, it achieved sales of approximately €3.1 billion.

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