Acquisition (1244T)
2011年12月1日 - 4:00PM
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TIDMFENR
RNS Number : 1244T
Fenner PLC
01 December 2011
1 December 2011
Fenner PLC ("Fenner")
Acquisition of Allison Custom Fabrication, Inc. ("Allison")
Fenner is pleased to announce that today its wholly owned
subsidiary Fenner Dunlop Americas, Inc., ("Fenner Dunlop") has
acquired substantially all of the operating assets of the business
being conducted under the name "Allison Custom Fabrication" from a
group of related privately owned entities based in Allison,
Pennsylvania. The unaudited value of the gross assets being
acquired was $6.471m as at 31 December 2010.
Allison specialises in the design, engineering, machining and
metal fabrication of customised material handling equipment,
primarily for the mining markets of Pennsylvania and West Virginia.
It has a strong reputation amongst its customers in the underground
coal industry for responsive and technically advanced engineering
solutions for conveying systems and structure.
This latest acquisition will strengthen the Fenner Dunlop
strategy of being the supplier of choice for Engineered Conveyor
Solutions in the Americas. Combining Fenner Dunlop and Allison will
enable mining customers to enjoy integrated solutions for improving
the safety and total cost of ownership of materials handling, in
both underground and above ground applications.
Nicholas Hobson, CEO of Fenner said "This is a significant
development for the Fenner Dunlop Engineered Conveyor Solutions
offering in the Americas. We have again expanded our capabilities
and have broadened our offer to manage the life cycle of our
customers' conveyors. This acquisition further consolidates Fenner
Dunlop's position as the leading supplier of conveyor products and
services to the North American markets."
Fenner is a world leader in the field of reinforced polymer and
textile technology. The Group provides a comprehensive range of
products and services for conveying systems in the mining and power
generation markets; conveyor belting for the mining and power
generation markets; precision motion control products for the
office automation and mechanical equipment markets; sealing
products for mining, hydraulics and energy industries; technical
fabrics and polymer products for the medical device industry.
For further information please contact:
Fenner PLC
Nicholas Hobson, Chief Executive 01482 626501
Richard Perry, Finance Director
Weber Shandwick Financial
Nick Oborne/ Stephanie Badjonat 020 7067 0700
This information is provided by RNS
The company news service from the London Stock Exchange
END
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