Veyance Technologies, Inc. is a $2.1 B global manufacturer and marketer of engineered rubber products with exclusive global rights to the Goodyear Engineered Products brand name. Its diverse product offering includes conveyor belts; air, water, steam, hydraulic, petroleum, fuel, chemical and
materials handling hoses; rubber tracks for agricultural and construction equipment; military tank tracks; power transmission belts; anti-vibration products such as air springs; and services for certain products. Veyance manufactures products in over 30 plants in the US, Canada, Mexico, Australia, Brazil, Chile, China, Czech Republic, Slovenia, South Africa and Venezuela. The Company sells its products largely through wholesale distributors to a wide variety of market segments, with industrial and military applications accounting for the majority of its revenues and profits.
Formerly the Engineered Products Division of The Goodyear Tire & Rubber Company, Veyance was acquired by The Carlyle Group, a leading private equity firm, on August 1, 2007. The Company continues to experience significant growth with primary focus on industrial and military markets.
To strengthen its market leadership position, grow its business and strategically differentiate its offerings, Veyance has consummated several acquisitions over the past several years. In late 2007, Veyance acquired a majority stake in China’s largest conveyor belt manufacturer, renamed Shandong Aneng Conveyor Belt & Rubber Co. This provides Veyance a strong platform for growth in the world’s largest and fastest-growing conveyor belt market as well as a low-cost export source. In 2007 and 2008, Veyance vertically integrated into yarn and fabric through the acquisitions of two Georgia-based manufacturers. In 2008, the Company acquired three leading conveyor service companies and can now provide customers conveyor installation, splicing, monitoring, repair, on-site training and troubleshooting capabilities in North America, Latin America, and South Africa.