Motion Industries to Purchase Conveyance Company
Motion Industries Inc. signed a definitive purchase agreement to acquire the operating assets of U.S.-based International Conveyor and Rubber (ICR).
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| Motion Industries Inc. signed a definitive purchase agreement to acquire the operating assets of U.S.-based International Conveyor and Rubber (ICR). |
The transaction is expected to close at the end of December 2024, subject to customary closing conditions.
ICR services commercial and industrial customers in the eastern United States. Headquartered in Blairsville, Pennsylvania, the company has seven locations, offering sales, installation, repair and maintenance of conveyor belts and related system products. They also provide engineering and design services for custom solutions.
ICR serves a variety of industries, including mining and aggregates, power generation, oil and gas, construction, steel, building materials manufacturing, package handling and distribution, wood/pulp/paper, cement and asphalt, recycling and marine terminals.
“It’s a perfect match, both companies are dedicated to their customers and share the same core values,” said Kory Krinock, one of ICR’s owner-operators. “We look forward to enhancing our services and customer value proposition while contributing to Motion’s growth.”
“ICR is highly complementary to Motion, adding seven strategic locations that expand our reach,” said James Howe, president of Motion. “ICR introduces new customers and end markets, allowing us to broaden our offerings. We are thrilled to welcome the highly talented ICR employees to the Motion team, including Kory and the other owner-operators, who will continue to play an integral role in the business.”
With 150 employees, ICR will join Motion’s business unit, Motion Conveyance Solutions.
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