Conveyor Belt Distributor Marubeni acquired Stake in US Conveyor Belt Distributor
Marubeni Corporation has acquired an 80.1 percent stake in All-State Belting, a conveyor belt distributor headquartered in West Des Moines, Iowa, USA. The acquisition came as a result of splitting All State Industries into a non-metallic-parts manufacturing business and a belting distribution business.
Tokyo, Japan – Marubeni expects All-State Belting 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 regional facilities in the US, the company will continue to serve original equipment manufacturers’ end-user customers and select industrial distributors. Additionally, All-State Belting’s business is complementary to Marubeni’s belt distribution strategy, which focuses on importing and distributing quality products manufactured from natural as well as synthetic rubber.