Dayco Acquires Brazil’s Nytron
Dayco, a U.S. manufacturer of belts, tensioners and pulleys for the trucking, construction, agricultural, industrial and automotive markets, has acquired 100% of Brazil’s Nytron, a supplier of pulleys, tensioners and hydraulic actuators. No financial details were provided.
With the acquisition, Dayco Group expands its business in South America and assumes an approximate 40% market share in belt tensioners. Dayco’s South American Sales Director Sílvio Alencar cited the “strong synergy between Dayco and Nytron and the leadership in tensioners in Brazil,” and added that “Dayco will incorporate 141 new tensioners’ applications in its portfolio of products, expanding the options for our clients.”
The move is part of Dayco strategy to increase its presence and reach in the region, with a goal of $176 million in sales by 2015. “The Nytron acquisition complements our product line, expands our participation in the market and gives continuation to the growth Dayco has been achieving in the Brazilian and South American markets since 2000,” said Ronaldo Teffeha, Dayco’s OEM/Aftermarket vice president in South America.
Founded in 1993, Nytron has 200 employees at its two industrial plants as well as a 91,000 sq.ft. (8500 m2) logistic center in Itapira City, São Paulo State. As part of the acquisition, Dayco will also gain an aluminum smelting plant in São Paulo.
Along with Brazil, Dayco has been seeking expansion in China and said it has other business expansions under development in Europe and Australia.