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Gulf One Buchanan acquires 25.7 per cent of Belte

The Gulf One Buchanan Industrial Technologies Fund, managed by private equity corporation MIT Munich Industrial Technologies, has acquired a 25.7 per cent share of the aluminium refiner Belte based in Delbrück.

Belte needs this fresh capital for a further expansion of the company which has grown considerably in the past few years.

“In 2009, we will probably not reach the extremely good results from 2008 due to the worldwide financial crisis but we will be ahead of our turnover from 2007. And in 2010 we will continue to grow,” says founder and chairman of the board Markus Belte.

“With the MIT team we now have a solid partner who is able to realise our potential and understands our business processes. Especially in view of our complex industrial methods it was important to us to find an investor with good knowledge of our industry.”

Further expansion is already scheduled: in 2010 Belte will extend the production sites in Bavaria and North Rhine-Westfalia, and international sites are to follow.

Belte produces aluminium parts in the fields of tyre technology, engine components and structural elements. It also develops specialised components for the aerospace industry, the medical engineering industry as well as shipbuilding and transport technology.

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