Megadyne purchased Rultrans to grow and expand its range of belts while adding another factory, Tesoro said at the NIBA—The Belting Association conference, held Sept. 12-15 in San Antonio. He was joined at the meeting by Roy Pyle, vice president of business development for Jason Industrial, and two executives from Rultrans, Cam Cikurel and Jaume Freixenet. They said Rultrans, like Jason Industrial, will retain its name and continue to operate as a separate business unit by the Cikurel family, which has managed the company for 30 years.
The firm will continue to operate its plant in Turkey with its work force of about 120, Pyle said. Moiz Cikurel will remain the president and CEO of the company and has been named to Megadyne's board of directors, Tesoro said.
Rultrans' belt offerings create a new range of products for Megadyne and Jason Industrial and should further accelerate growth of the Megadyne group of companies across the globe, the officials said. Adding Rultrans to the fold also bolsters Megadyne's polyurethane line of products, they said.
The acquisition gives Rultrans much greater access to the North American market with its lightweight line of belting used by a diverse range of businesses, Cam Cikurel said. "This is a strong opportunity for us."
Jason Industrial didn't supply lightweight belting in North America previously, Tesoro said. "Now we will be the point of contact to purchase Rultrans' belts in the Americas." While Jason Industrial will market Rultrans products in the Western Hemisphere, he said, Megadyne will handle distribution elsewhere.
One of the keys to the acquisition will be adding the knowledge and abilities the Cikurel family brings to the table, Megadyne CEO Giorgio Tadolini said.
"This is a very important step in the implementation of our mission of strengthening our position as market leaders by offering, among other things, more and more complete solutions to our customers' requirements," he said.