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Industry News

Veyance to acquire National Belt Service
By Veyance Technologies
Jun 10, 2008
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BIRMINGHAM, AL -- For the second time this year, Veyance Technologies, Inc., is broadening its conveyor belt installation, splice and repair service footprint to support coal producers. The world’s No. 1 conveyor belt maker and exclusive manufacturer and marketer of Goodyear Engineered Products has signed an agreement to purchase the assets of National Belt Service, or NBS, based in Bessemer, AL, with additional operations in Wheeling and Charleston, WV, and Atlanta, GA.

Considered to be one of the leading U.S. conveyor belt service providers, NBS employs about 75 associates and has annual revenue approaching $20 million. “Our expanding presence in services helps us provide our distributors and their customers with value-added support,” said Bret Hall, Veyance’s general manager of industrial services. “This acquisition gives us a more comprehensive conveyor belt solution for end users.”

According to Hall, Veyance will have the ability to provide services throughout the United States and Canada following the acquisition. In February, Veyance purchased Monk Mining Supply, a coal mining conveyor belt service company based in Tazewell, VA. He said NBS, like Monk Mining, is a recognized and respected name in the industry. NBS provides Veyance with installation, splicing, monitoring, repair, on-site training and troubleshooting capabilities.

Veyance’s growth in the coal mining service industry complements its Goodyear branded conveyor belt and splice kit lineup. Involvement in more facets of conveyor systems gives the company additional expertise that accelerates its product development and technology, said Hall.

“Our direct link to belt installations and repairs also strengthens a mine’s preventive maintenance program, which can improve its production schedule,” he added. Hall stressed that Veyance's entry into conveyor belt services for coal mines is complementing its existing network of authorized distributors. “Our distributors are the core of our marketing strategy and that won’t change”

He explained that linking NBS services to Goodyear-branded belt sales gives distributors a comprehensive package for mine operations. “The support that they can provide to their coal mine customers expands as we grow our service offerings.”

NBS has operated for more than 17 years. Current owners Billy Sibley, John Henley and Ray Gilker will remain with the organization to ensure consistency of customer support. The NBS acquisition will expand Veyance’s coal mining industry support that began in 1913 with the production of the first Goodyear-branded conveyor belt. In addition to NBS and Monk, Veyance recently acquired a Georgia conveyor belt fabric manufacturer, renaming it Specialty Fabrics & Converting, and formed the joint venture Shandong Aneng Conveyor Belt & Rubber Co. that has become China’s leading manufacturer of conveyor belts.

In April, Veyance began construction of an $18 million expansion at its flagship conveyor belt plant at Marysville, Ohio, to add new process technology and equipment for heavy-duty conveyor belts. Veyance Technologies has 35 manufacturing facilities worldwide and employs 9,000 associates. Along with conveyor belts, Veyance manufactures and markets Goodyear-branded industrial and automotive products, including power transmission belts, hose, hydraulics, rubber track, air springs and tensioners, as well as metal sprockets, fittings and couplings.

Source: http://www.goodyearep.com/

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