Continental acquires belt assets of CRP Industries

Continental has acquired the assets and business of CRP Industries‘ Continental-related belt business and kits programme.

A report by Crains Cleveland Business says the move brings all of Continental’s belt products into its own business.

The deal comprises import and domestic Continental-branded multi-v belts, accessory drive kits, v-belts, timing belts, Pro Series kits, Pro Series Plus kits and Black Series kits.

CRP will continue selling non-Continental brands, including Rein Automotive parts, Pentosin technical fluids, Ajusa gaskets and AAE Steering products.

Rolf Sudmann, head of the global automotive aftermarket belt business within Continental, said: “In addition to continue providing our strong all-makes programme, this integration will help us to be one of the leading providers in the import market. This will bring clarity to branding for both Continental’s and CRP’s customers. Combining the strengths of each business, we will ensure each of our customers will be provided a one-stop shopping experience.”

CRP’s CEO Dan Schildge says the deal will allow the company to focus on “further defining our brand and product offering around solving the advancing technology challenges faced by today’s repair technicians”.

Source

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