Schwing America has purchased all the assets of Loop Belt Industries, makers of truck-mounted telescopic conveyors.
The assets will be incorporated into Schwing, said CEO Bill Murray.
“This asset purchase adds diversification to our existing portfolio and will provide our customers with enhanced high-performance concrete and aggregate conveying options.”
The acquisition includes intellectual property, patents, patent applications, copyrights, and trademarks, among other assets. The Loop Belt products include 33- and 40-meter truck-mounted telescopic conveyors, a tractor-trailer mounted 40-meter conveyer, and a tower-mounted conveyor for stationary applications.
Loop Belt president Joseph Gallione will serve as a senior product engineer & operations support manager, and will continue to lead the Loop Belt product line in its current operating model.