LULING, Texas—Elgi Rubber Co. L.L.C. has purchased American Manufacturing & Equipment Inc., better known in the tire and retreading industry as Cincinnati Retread Systems.
AME/Cincinnati Retread Systems makes tread buffers, expanding hub assemblies and expanding rim assemblies at its plant in Fairfield, Ohio, where it will continue to be based. Elgi plans to increase the plant's production capabilities to include Elgi equipment designs, carbide and mini extruder manufacturing.
Terms of the deal were not disclosed.
Founded in 1978 by Albert and Carol Penter, CRS has become a leading equipment manufacturer, marketing globally, Elgi said. All CRS staff, Albert Penter Jr. and Todd Hunsche as general manager, are being retained.
The CRS purchase is the latest of a series of investment and acquisitions by Elgi with the intent of global expansion.
Other recent acquisitions include: Western States Manufacturing in 2014; Rubber Compounding Holland in 2013; Armonas Brazil in 2013; Pincott International (rasp blades) in 2012; Midwest Rubber in 2011; Rubber Resources Netherlands in 2011; Durol Western in 2009; Longwear Rubber in 2007; Carbrasives in 2008; Elgitread in 2005; and Treadsdirect L.L.C. in 2002.
Elgi Rubber is a subsidiary of India's Elgi Rubber International Ltd. Fiscal 2014 sales were $215.3 million, 16 percent higher than in 2013.