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WATERVLIET, N.Y. -- A Watervliet company is celebrating 150 years in business and in honor of this milestone, the owners have decided on a new name.

Troy Belting and Supply Company in Watervliet is now Troy Industrial Solutions. It was founded in 1862 as a provider of leather belting used in industrial machinery. The general manager says the new name reflects the company's evolution into the 21st century.

"We are doing other work, other services. The belting side of our business really only represents about 30 percent of our overall revenue. The balance of the revenue comes from other services that our related to the belting and industrial supply. Our motor shop operation, our field service work and now our hydraulic business," said general manager David Barcomb.

Ray Smith bought the business in 1948. It has been operated by the Smith family ever since.