Jan. 9. 2013
Marubeni Corporation (“Marubeni”) 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.
ASB’s corporate presence in Iowa signifies the importance of the Midwest region as one of the largest belt-demand markets. 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.
With the acquisition of ASB Marubeni has positioned itself as a strong participant in one of the most important rubber distribution markets.
<About All-State Belting,LLC>
Location : Des Moines, Iowa, United States
President/CEO : Robert G. Pulver
Sales points : Dallas, Texas; Columbus, Ohio; Charlotte, NC