Fenner PLC Acquisition of Australian Conveyor Engineering (5886P)
2012年10月26日 - 3:00PM
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TIDMFENR
RNS Number : 5886P
Fenner PLC
26 October 2012
26 October 2012
Fenner PLC ("Fenner")
Acquisition of Australian Conveyor Engineering ("ACE")
Fenner is pleased to announce that its wholly owned subsidiary
Fenner Dunlop Australia Pty Ltd, ("Fenner Dunlop") has today
exchanged contracts to purchase 100% of the share capital of ACE, a
privately owned group of companies based in Somersby, New South
Wales, Australia. The audited value of the gross assets being
acquired was AUD$16.0m (GBP10.4m) as at 30 June 2012. The
transaction is expected to complete at the end of November
2012.
ACE specialises in supplying engineered conveyor solutions for
the design, manufacture and installation of high capacity conveyor
systems for both surface and underground mining, with the
capability to take projects from the initial concept to the
commissioned conveyor system. The acquisition furthers Fenner
Dunlop's strategy of being the supplier of choice for engineered
conveyor solutions in Australia, offering mining customers
integrated solutions for improving the safety and total cost of
materials handling.
Nicholas Hobson, CEO of Fenner said "We are passionate about
making conveying safe, more reliable and cost effective. This is a
significant development for the Fenner Dunlop Engineered Conveyor
Solutions offering in Australia, through which we are growing by
strengthening our capabilities to effectively manage the lifetime
cost of our customers' conveyors throughout the business cycle.
This acquisition consolidates Fenner Dunlop's position as the
leading supplier of conveyor products and services to the
Australian markets and complements the acquisition in North America
of the Allison Custom Fabrication business."
For further information please contact:
Fenner PLC 01482 626501
Nick Hobson, Chief Executive
Richard Perry, Finance Director
Weber Shandwick Financial 020 7067 0700
Nick Oborne / Stephanie Badjonat
/ Robert Cook
Notes to editors:
Fenner PLC is a leading global provider of local, engineered
solutions for performance critical applications. The group operates
through two divisions:
Engineered Conveyor Solutions. The ECS division, trading under
the Fenner Dunlop, Fenner and Dunlop brand names, is a recognised
leader in the global conveying market. The division offers a
unique, comprehensive suite of products and services, which cover
the conveying needs of mining, power generation and bulk handling
markets.
Advanced Engineered Products. The AEP division excels at solving
customers' most challenging application problems. Drawing from an
unprecedented array of polymer, elastomer and textile technologies,
the division routinely develops innovative performance- critical
components for OEM customers in markets from underground oil
exploration/mining to satellites/aircraft, speciality off-road
vehicles to implantable medical devices, and from bank note
dispensers to wind turbines. The Division's trading names are
recognised globally and include Hallite, CDI Energy Products, EGC
Critical Components, FAST, Fenner Precision, Fenner Drives, James
Dawson, Secant Medical and Xeridiem.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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