Shanghai Yongli Belting CO., LTD. has formed a joint venture with Mol Belting Systems, Inc. to make and distribute lightweight conveyor belting products in Portage,
Indiana, US. The joint venture is named as Yongli America LLC. Yongli will invest $0.6 million in the joint venture. Under the terms of the transaction, Yongli will hold a 60% stake and Mol Belting will hold the remaining 40% stake in the joint venture.