Marubeni Corporation : Marubeni Acquires U.S. Conveyor Belt Distributor
January 09, 2013 at 01:39 am EST
By
Share
Marubeni Corporation
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.
Location : Des Moines, Iowa, United States
President/CEO : Robert G. Pulver
Sales points : Dallas, Texas; Columbus, Ohio; Charlotte, NC
Marubeni Corporation is a diversified group organized primarily around 12 business segments:
- sale of agricultural products and related services (47% of net sales): sale of agricultural inputs (crop protection products, fertilizers, seeds, etc.), precision farming services, formulation of crop protection products, export of cereals and oilseeds, etc.;
- sale of food products (17.6%);
- production and distribution of oil, gas, alternative energy and electricity (10.4%);
- production of chemicals and petrochemicals (6.4%);
- production of metals and mineral resources (4.9%);
- sale and financing of industrial and construction machinery and equipment (4.6%). The group also develops car sales and tire distribution activities;
- sales of consumer electronics (4.3%). In addition, the group develops real estate development and management activities;
- sale of forest products (2.3%): wood chips and biomass fuel, pulp and waste paper, paper, paperboard, hygiene products, building & construction materials and wood products;
- sale of apparel, accessories, textile and lifestyle products (1.1%);
- management and operation of aircraft and ships (1%);
- development of energy production units and industrial installations (0.3%);
- finance and leasing (0.1%): auto finance, aircraft leasing, aircraft engine leasing, leasing and renting of refrigerated trailers, commercial vehicles and commercial freight railcars, etc.
Net sales are distributed geographically as follows: Japan (37.2%), the United States (42.5%)