Schwing America, worldwide designer, manufacturer and distributor of premium concrete production and handling equipment, recently announced the closing of transaction for the purchase of all the assets of Loop Belt Industries, makers of high-quality truck mounted telescopic conveyors.

Schwing America, worldwide designer, manufacturer and distributor of premium concrete production and handling equipment, recently announced the closing of transaction for the purchase of all the assets of Loop Belt Industries, makers of high-quality truck mounted telescopic conveyors.

“We are thrilled to acquire the assets of Loop Belt Industries and incorporate them into the Schwing family,” said Bill Murray, CEO of Schwing America. “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, which was finalized Sept. 21, includes intellectual property, patents, patent applications, copyrights and trademarks, among other assets. The Loop Belt products include 33-Meter and 40-Meter truck mounted telescopic conveyors, a tractor trailer mounted 40-Meter conveyer, and a tower mounted conveyor for stationary applications.

“The Loop Belt product line complements Schwing's concrete machinery portfolio in a strategic way enabling our customers to grow with Schwing,” said Tom O'Malley, senior vice president of sales and marketing. “The advanced design features, including an all-tubular steel boom, 20-in.-wide belts and flexible outriggers, offer users a reliable unit that can convey several types of materials including concrete, aggregates and sand.”

Along with the asset purchase, Schwing has hired Loop Belt Industries president, Joseph Gallione as a senior product engineer and operations support manager. Joe will continue to lead the Loop Belt product line in its current operating model and the transition of Loop Belt production from Glen Ellyn, Ill., to Schwing's manufacturing facility in White Bear Lake, Minn.

Today's top stories

Make Eliminating Jobsite Distractions Company Safety Goal

Two Firms Give Burned Highway New Life

VIDEO: Komatsu Holds Demo Days at Cartersville Customer Center

ABC: Over Half of March State Construction Unemployment Rates Down From a Year Ago

Allen Engineering Hosts 60th Anniversary Celebration

Contractors' Plate Full On Interstate 35 in Texas

Space Coast Leaders, Residents Excited About Planned Brightline Rail Station in Cocoa

Attachments International Debuts Severe Service Demolition Grapple