ContiTech buys Roulunds belting business

By Liz White, ERJ staff

Hanover, Germany-ContiTech AG is to acquire belting maker Roulunds Rubber A/S of Odense, Denmark.

Representatives of ContiTech and Roulunds Holding A/S signed a purchase agreement 4 Feb 2006, which is subject to approval by antitrust authorities, said a ContiTech statement on the purchase.

ContiTech was particularly interested in the Danish belting maker's production of power transmission belts for commercial vehicles, at its plants in Asia, according to a spokesman for the Hanover-based group.

The parties agreed not to disclose the purchase price, said ContiTech's statement on the deal.

Roulunds Rubber is a subsidiary of AP Moeller/Maersk Group of Denmark, and had Euros 70 million turnover in 2005. The rubber group employs 1100 at plants in Europe and Asia, making power transmission belts for industrial and automotive uses, said ContiTech.

AP Moeller/Maersk Group also owns Codan Gummi A/S, a Danish producer of automotive and industrial hose systems. This business is not part of the deal, said the ContiTech spokesman.

Roulunds plants include its headquarters operation at Odense and Southern European operations in Padua, Italy and Sant Feliu Llobregat (Barcelona) in Spain. It also has facilities in New Delhi, India, Shanghai, China, and in Yangsan-City, S Korea.