ContiTech acquires Serbian conveyor belt company

ERJ staff report (RD)

Hanover, Germany - The ContiTech Conveyor Belt Group, Northeim, has purchased the Serbian conveyor belt maker Univerzal Kolubara d.o.o., the German company announced 7 April.

Kolubara is based in Veliki Crljeni, south of Belgrade, and employs 250 staff. Conti said the price of the purchase was in the single-digit million euro range.

Conti said the purchase is part of its plan to increase its position in Eastern Europe and meet the demands of the local market. “This plant gives us an excellent base in a region rich in lignite coal,” said Hans-Jürgen Duensing, head of the ContiTech business unit. Following the purchase of tyre maker Matador in Slovakia, the merger with Kolubara provides us the wherewithal to be successful in Eastern Europe,” Duensing added, in the statement.

“This is an important building block in our strategy of establishing a firmer foothold on the Eastern European market,” noted Heinz-Gerhard Wente, member of the ContiTech AG Executive Board. “At the same time it guarantees us a stable base for expanding business outside the automotive industry," he added.

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Press release from ContiTech Conveyor Belt Group