Acorn becomes UK trade distributor for NSK and RHP Bearings
Acorn Industrial Services, one of the UK’s leading distributors of bearings, power transmission components and linear systems, has secured a UK trade distributorship for the NSK and RHP Bearings brands.
Des Spillings, Sales Director at Acorn Industrial Services, explains: “This is exciting news for Acorn and for our customers. We were able to demonstrate to NSK that we had the capabilities to provide an authorised, traceable route for their products to enter the main distribution channels. As NSK is the world’s leading ball bearing manufacturer, we believe the brand has huge potential in the UK - and it is our plan to significantly increase their market share here.”
The deal will see Acorn Industrial Services providing the full range of NSK and RHP products and services including Self Lube, Precision and Inch type bearings. Acorn will also be launching a new range of RHP spherical bearings to the market.
ContiTech acquires Veyance Technologies
The international automotive supplier, tyre manufacturer and industrial partner headquartered in Hanover, Germany, has concluded an agreement with The Carlyle Group, Washington D.C., USA, relating to the purchase of Veyance Technologies Inc, Fairlawn, Ohio, USA, for approximately €1.4 billion. Veyance operates globally in the field of rubber and plastics technology and in 2013 recorded sales of approximately €1.5 billion, around 90 percent of which were achieved outside the automotive industry.
“Veyance’s business and geographic presence complements Continental’s existing global footprint, and the planned integration of Veyance into our ContiTech division will expand our position in rubber and plastics technologies on a worldwide basis. Furthermore this acquisition will enable Continental to come a step closer to its strategic goal of increasing further our proportion of sales to industrial customers and private end users. ContiTech itself will achieve some 60 percent of its sales outside the automotive OE sector in future,” said Dr. Elmar Degenhart, Chairman of Continental’s Executive Board in Hanover.
“Veyance Technologies will complement our ContiTech division in key markets where our presence is limited, particularly in the US and South America. Plants in Mexico, Canada, China, Australia and also South Africa will provide additional opportunities,” explained Heinz-Gerhard Wente, Member of the Executive Board of Continental AG and CEO of the ContiTech division. “Veyance and ContiTech complement each other geographically, and ContiTech’s Conveyor Belt Group and Fluid Technology business units in particular will benefit from an enhanced global presence. The Power Transmission Group and Air Spring Systems also will achieve positive results from the merger.”
Nordmeyer Stahl has good year under Menzel ownership
Nordmeyer Stahl GmbH from Peine, Germany, formerly Nordmeyer Stahl-Handel und -Service GmbH, is looking back on a successful business year. On February 22, 2013, the company was acquired by the Berlin-based Menzel group, which also took on all employees. Thanks to a solid business model and a very committed staff, the supplier of crude steel and individually manufactured steel components has now re-entered the market with new strength.
“We have had a very promising number of orders as well as good sales figures for some months now, and are expecting a similar trend for 2014”, says Jose Luis de la Cruz Quintela, sales manager at Nordmeyer Stahl. “We are back to providing optimal customer service, focusing fully on our strengths, i.e. supplying high-quality steel and steel components. We are the go-to partner if a customer requires material of a specific length, certified materials, and/or an express delivery. As a medium-sized company, we are able to provide more versatility than large suppliers.”
With this specialisation, Nordmeyer Stahl has a set-up similar to its parent company – Menzel Elektromotoren GmbH designs and manufactures large electric motors, including special models, within the shortest possible time. “Nordmeyer Stahl came to our attention because we already operate a subsidiary in Peine”, says Menzel CEO Mathis Menzel. “We noticed possible synergy effects and are very happy to have gained another successful member for the Menzel group.”
Adapted from press releases by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/11022014/acquisition_and_distribution_deals_for_heavy_industry_suppliers_724/