Mining Element Sells Conveyor Belt Business to ROITECH
As of July 1, 2024, Mining Element will transfer its conveyor belt product portfolio to ROITECH. This portfolio includes smooth, chevron, and tubular belts, belts with corrugated sides and buckets, as well as belts with rubber-fabric and rubber-cable traction frames.
As part of the deal, ROITECH will acquire the design and technological documentation, along with the production technology for Element conveyor belts. Specialists from Mining Element will continue to support ongoing projects until their completion.
Marat Abdurakhimov, the Development Director of Mining Element, explained that the market is actively changing, and this step will allow the company to focus on the most current needs of users of mining equipment.
"In Russia, due to sanctions, the equipment fleet is changing, and many new brands are emerging that require timely deliveries of quality components. Therefore, we decided to focus on the areas where enterprises currently have the most acute needs. We continue to expand the range of wear parts for hydraulic transport, crushing and screening equipment, transfer devices, and underground self-propelled equipment. We will also retain conveyor components in our portfolio. However, it is especially important that the sale of the conveyor belt business will allow us to direct even more efforts toward creating products for underground equipment, which the market currently needs the most," commented Abdurakhimov.
It is worth noting that ROITECH is a manufacturer of equipment for mining, metallurgical, and chemical production complexes.
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