Semperit sets up JV in China for conveyor belts

ERJ staff report (DS)

Vienna, Austria - SemperTrans, the conveyor belting unit of Semperit AG Holding has completed a joint venture with the Chinese Wang Chao Coal & Electricity Group. Semperit will hold 80% of the shares in the new company, which is in the process of being set up. The registered capital will amount to EUR 20 million.

The joint venture will assume the operating activities of a newly-built conveyor belt plant in the Shandong province, located on Chinese east cost. The plant was recently put into operation and is fitted with state-of-the-art production facilities.

With this expansion step the Semperit Group will also enlarge their product portfolio to include PVC/PVG belts, which are used primarily in the underground mining industry. The investment volume comprises funding for a further capacity expansion, allowing in the medium term for around 15,000 tonnes of conveyor belts to be produced annually.

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Press release from Semperit