Movex S.P.A.

Time Manufacturing Company has completed its acquisition of France Elévateur (FE Group), a European manufacturer of aerial work platforms. The deal adds over 450 employees and facilities across France, Belgium and Spain.

France Elévateur has integrated Movex into FE Group, acquiring the Spanish leader in aerial lifts. Movex produces over 200 elevators annually and doubled capacity to 400 units in 2020.

German investment holding Armira has acquired a majority stake in Movex spa, a European leader in the production of chains and modular elements for conveyor belt systems. This is Armira's first investment in Italy.

France Elévateur has acquired 100% of the equity in Talleres Velilla, which trades as Movex, a Spanish vehicle-mounted lift manufacturer based in La Garriga, Barcelona. The acquisition adds production capacity and expands geographic coverage.

Beltservice Corporation and Movex S.P.A. have entered into an expanded strategic-business agreement to market and service Movex plastic modular belts, chains and conveyor components in the United States and Canada.