HANOVER, Germany (Feb. 6)—Continental A.G. has agreed to buy Danish belting maker Roulunds Rubber A.S.
Representatives of Conti's ContiTech A.G. unit and Roulunds Holding A.S. signed a purchase agreement Feb. 4, which is subject to approval by antitrust authorities, ContiTech said. Terms of the deal are not being disclosed.
ContiTech is particularly interested in the Danish belting maker's production of power transmission belts for commercial vehicles at its plants in Asia, according to a company spokesman.
Odense, Denmark-based Roulunds Rubber is a subsidiary of AP Moeller/Maersk Group of Denmark. The firm generated $84 million in sales last year, with 1,100 employees at plants in Europe and Asia making power transmission belts for industrial and automotive uses, ContiTech said.