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Marubeni Acquires U.S. Conveyor Belt Distributor

Tokyo, Jan 9, 2013 (JCN) - Marubeni Corporation has acquired an 80.1% stake in All-State Belting, LLC (ASB), a conveyor belt distributor headquartered in West Des Moines, Iowa. The acquisition came as a result of splitting All State Industries Inc. into a non-metallic-parts manufacturing business and a belting distribution business (ASB).

Marubeni expects ASB to be a platform for US growth and further related investments. In addition, Marubeni is looking to create synergy with Belterra Corp., which has been a Marubeni wholly-owned Canadian belt distribution company since 2007.

Operating through its strategically-located regional facilities in the U.S., ASB will continue to serve original equipment manufacturers' end-user customers and select industrial distributors.

Additionally, ASB's business is complementary to Marubeni's long-standing belt distribution strategy, which focuses on importing and distributing quality products manufactured from natural as well as synthetic rubber.

By Chris Lui Staff Writer

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