Acquisition of MRI Manufacturing & Research, Inc


 

TIDMFENR 
 
RNS Number : 0183P 
Fenner PLC 
08 July 2010 
 

                              Fenner PLC ("Fenner") 
 
        Acquisition of MRI Manufacturing & Research, Inc ("MRI Medical") 
 
Fenner is pleased to announce that it has acquired 100% of the share capital of 
MRI Medical, a privately owned corporation based in Tucson, Arizona, USA. Gross 
assets of $2.6 million were acquired through the transaction. 
 
MRI Medical is a start-to-finish development and manufacturing company that 
designs, validates and manufactures cutting-edge, silicone-based devices for its 
customers, which are medical device companies. 
 
Mark Abrahams, CEO of Fenner commented that "MRI Medical expands Fenner's 
expertise in polymer and elastomer engineering, and is a further demonstration 
of the AEP division's  focus on performance critical applications." 
 
"MRI Medical and Secant Medical, which we acquired as part of Prodesco in 2008, 
are both wholly engaged in the Medical industry, using business models which 
enable their customers to introduce less-invasive medical devices. The 
acquisition of MRI Medical is another important step towards the goal of 
building a significant presence for Fenner in the medical industry." 
 
Fenner is a world leader in the field of reinforced polymer engineering. 
Products include conveyor belting for the mining and power generation markets; 
precision motion control products for the office automation and mechanical 
equipment markets; sealing products for the mining, hydraulics and energy 
industries; technical fabrics and polymer products for the medical device 
industry. 
 
For further information please contact: 
 
+----------------------------------------+----------------------+ 
| Fenner PLC                             |                      | 
+----------------------------------------+----------------------+ 
| Mark Abrahams,     Chief Executive     |         01482 626501 | 
+----------------------------------------+----------------------+ 
| Richard Perry,        Finance Director |                      | 
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|                                        |                      | 
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| Weber Shandwick Financial              |        020 7067 0700 | 
+----------------------------------------+----------------------+ 
| Nick Oborne/ Stephanie Badjonat        |                      | 
+----------------------------------------+----------------------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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