FAIRLAWN, Ohio — Continental A.G. has acquired the automotive belting and related products assets and business of CRP Industries Inc., which consists almost entirely of Continental-branded products sold in North America.
As a result of the deal, Conti now controls all Continental-branded aftermarket belting products through its ContiTech North America Inc. business in Fairlawn.
Originally called Conti Rubber Products Inc., Cranberry, N.J.-based CRP Industries was founded in 1954 to represent Continental products — including tires — in the U.S. marketplace. The company adopted the CRP name in 1978.
The deal covers 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, Conti said.
Financial terms of the acquisition were not disclosed.
Continental said that it will work together with CRP on a gradual transition to enable both sets of customers to become accustomed to the new arrangement of products and services.
"We are excited to bring all Continental products sold in North America under our own North American aftermarket business," Rolf Sudmann, head of Continental's global aftermarket belt business, said.