Veyance Technologies forms China joint venture

Industrial Distribution staff -- Industrial Distribution, 1/16/2008 7:33:00 AM

Veyance Technologies Inc. formed a joint venture with Ruiyuan Rubber and Plastics Co. Ltd. to make conveyor belts in Yanzhou, China.

Veyance, formerly Goodyear Tire & Rubber Co.’s Engineered Products division said the new entity, Shandong Aneng Conveyor Belt & Rubber Co. Ltd., is the largest conveyor belt manufacturer in China, with 20 production lines producing more than 12 million square meters of conveyor belts each year.

“This joint venture is a perfect fit for Veyance, which introduced the first steel-cable-reinforced belt and produced the strongest and longest steel-cable-reinforced belts currently in use," Veyance Asia-Pacific vice president and general manager Chris Jones said, adding that China's conveyor belt market is growing 7 percent a year.

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