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09/11/2016

REMA TIP TOP increases stake in COBRA to 100 per cent

Poing, 12 September 2016 – REMA TIP TOP has increased its stake in COBRA Group / DEPREUX to 100 per cent. The complete takeover of COBRA, a specialist in the manufacturing of conveyor belts and accessories for the mining, food, agricultural, packaging and logistics sectors, allows REMA TIP TOP to further strengthen its global conveyor technology business.

“We are the global number one in the tire repair and surface protection areas of our business divisions. Now, we are focussing on stabilising our position among the top three in the field of conveyor technology”, says Thorsten Wach, CEO of REMA TIP TOP. “We are ahead in the conveyor technology sub-area wear protection. The complete takeover of the COBRA group now further increases our capacities in the area of conveyor belts.”

With the REMA TIP TOP service offering in combination with Dunlop Belting Products South Africa from the site in South Africa, the company directly addresses mine operators. COBRA will continue to act independently in the market, directly addressing service providers. “We make use of synergies by pooling purchasing volumes or central functions like quality management or IT”, explains Thorsten Wach. “Apart from that, COBRA remains autonomous. We want to preserve its entrepreneurial agility and provide the company with the necessary independence.”

REMA TIP TOP will invest into the expansion of COBRA’s production capacities and the modernisation and extension of the distribution network and open up additional cross-industry perspectives for the company in Europe, in the USA, China and Asia-Pacific. Headquartered in Luxeuil-les-Bains in France, the COBRA group operates production sites in Poland, France and China. In the past fiscal year, the company employing 500 people generated sales of approximately USD 100 million.

Both companies have agreed not to disclose financial details of the transaction.

For further information, please visit www.rema-tiptop.com

Press contact:
REMA TIP TOP AG
Marius Schaub
marius.schaub@tiptop.de
+49 (0) 8121 / 707 10265
www.rema-tiptop.com