| || Maker of Goodyear Engineered Products Conveyor Belts Acquires Prominent Fabric Operation |
11th August, 2007
Veyance Technologies, Inc., exclusive manufacturer and marketer of Goodyear Engineered Products, has strengthened its North America position in the conveyor belt industry with the purchase of assets of the former Industrial Specialty Fabrics of Hogansville, Ga. Release link: http://www.veyance.com
Mike Braucher, marketing manager for Goodyear-branded conveyor belts, said the fabric operation has been renamed Specialty Fabrics & Converting, Inc.; is now a subsidiary of Veyance Technologies, Inc.; and is an ideal addition to the company's conveyor belt business.
The purchase price was not disclosed.
"Unique fabric designs and construction contribute to the rip, tear and impact resistance of belts, as well as fastener strength, that help Goodyear- branded belts deliver to customers the lowest cost per ton conveyed," he said.
"Managing our fabric production helps us to more closely link reinforcement technology with overall conveyor belt R&D efforts and design trials underway at our Goodyear Engineered Products conveyor belt tech center at Marysville, Ohio."
He added that Lean and Six Sigma methodologies are being implemented at the plant to provide additional control over finished conveyor belt deliveries and quality. "The fabric operations will draw on substantial resources, skills and experience of Veyance's management and technical teams to generate a wide range of synergies that can benefit our customers."
Braucher pointed out that the fabric business acquisition occurred during the first week following The Carlyle Group private equity firm's purchase of Goodyear's Engineered Products Division, renamed Veyance Technologies, Inc. "It's a good indication that we've accelerated the pace of our business and our investing to better serve customers," he said.
SF&C employs more than 200 associates and has a broad knowledge of high- performance products from manufacturing fabrics for more than 75 years. It is located 55 miles southwest of Atlanta and uses an array of weave and treatment processes to produce a wide range of fabrics.
In addition to heavy-duty and lightweight conveyor belts, Veyance Technologies, Inc., based in Akron, Ohio, manufactures and sells Goodyear- branded industrial power transmission products; hydraulics; rubber track; molded products; and automotive and heavy-duty truck belts, hose, tensioners and air springs. Its North America conveyor belt facilities are located at Marysville, Ohio; Spring Hope, N.C.; and Bowmanville, Ontario.