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Veyance, an exclusive producer of Goodyear engineered products, sought to expand its installation, splice and repair services with the purchase of the firm based in Belo Horizonte.
The deal, inked under undisclosed terms, is subject to regulatory approvals. After its close, RCT will continue to use its name and provide the same services.
Veyance noted that Goodyear-branded conveyor belts lead the Brazilian and Latin American market, and the decision permits 鈥渟ignificant growth opportunities鈥� there.
According to the company鈥檚 Latin America vice president and general manager Renaldo Calderini: "The company will use the dual offerings to enter other markets.鈥�
He added that its distributors will also be aided by more comprehensive conveyor belt support.
"The service complements our technologically-advanced conveyor belt products, splice kits and monitoring systems.鈥�
The company noted that RCT鈥檚 previous owners, Arthur Sternick and Marcio Alves de Oliveira, will remain with the company.
The takeover of RCT is the third belt acquisition by Veyance this year. It was preceded by deals to purchase Virginia-based Monk Mining Supply and Alabama firm National Belt Service.
In April, Veyance broke ground on an $18 million project to expand its flagship conveyor belt plant in Marysville, Ohio.
The work will allow the company to add new process technology and equipment for its heavy-duty grade belts.
