FAIRFIELD, N.J.—Megadyne S.p.A. plans to purchase Belt Corporation of America to bolster the manufacturing and fabrication ends of its business.
Financial details were not disclosed, but Philip Cohenca, CEO and president of Megadyne's North and South American operations, said the deal is likely to close at the end of August.
Belt Corporation, based in Cumming, Ga., manufactures specialty belting and is a custom belt fabricator. Its product range runs from standard timing belts to flat belts to belts designed for unique applications.
It serves the business machine, industrial drives, banking equipment, printing equipment, product handling equipment, office automation, textile, paper, vending and other industries.
The acquisition is part of the long-term strategy of Megadyne and its U.S. manufacturing, sales and distribution arm, Jason Industrial Inc., to become the premier belting manufacturer for all power transmission belting, Cohenca said.