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A global manufacturer of tires and automotive components hopes a newly announced acquisition will bolster its position in the agricultural equipment market.
Continental completed its acquisition of WCCO Belting and will incorporate the company into its conveying solutions business, company officials announced.
WCCO, based in Wahpeton, North Dakota, makes and distributes belts for farm machinery applications, including baler belts, draper belts, merger belts, pickup belts, and tube conveyor belts. The company also produces industrial belts for material and package handling, recycling, aggregate, and forestry applications.
Continental executives said the deal would enhance its portfolio in the growing off-highway industry, and stressed the importance of expanding the company’s presence in the agriculture industry amid global demographic changes.
“We intend to leverage and grow our manufacturing capability to elevate Continental’s opportunity in this area,” Jim Hill, the head of Continental’s ContiTech Group sector in North America, said in a statement.
Company officials also said Continental’s global sales capabilities would increase sales of WCCO’s products beyond the Americas. WCCO — and its workforce of more than 300 — currently distributes products across more than 20 countries.
WCCO President and CEO Tom Shorma said because WCCO and Continental share the same passion for their industries, the company "fits perfectly to Continental."
Financial terms of the deal were not disclosed.
Image Credit: paparazzza / Shutterstock.com
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