HANOVER, Germany—Conveyor belts for the mining industry produced by Veyance Technologies Inc. are to be sold under the Phoenix brand name, a ContiTech A.G. spokesman said.
Parent group Continental A.G. bought U.S.-based Veyance Technologies from Carlyle Group for about $1.58 billion in January. It has since been working to integrate the acquired company into the ContiTech business.
Phoenix Conveyor Belt Systems has been part of ContiTech since its acquisition by the German group in 2005.
“This was a board-level decision: Continental is to leave the branding to Phoenix in order to lift up the brand in North America,” a company spokesman said.
The decision, he said, applies only to products supplied to the mining sector, which were branded as Goodyear Engineering Products prior to Veyance's acquisition by ContiTech earlier this year.
Other parts of the product portfolio, including hoses, will have different brands or maybe sub-brands, the spokesman said.
“The most important fact from my point of view is that ContiTech and Phoenix operate independently and in competition with each other in the market,” the spokesman said. “Customers can, therefore, also get a quote for each brand if they get in touch with the relevant contact at Phoenix or ContiTech.”
The spokesman said Phoenix is working independently from ContiTech and has its own production facilities.