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 |
DISCLAIMER - IMPORTANT
ELECTRONIC VERSIONS OF THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBPAGE BY FENNER PLC (THE "COMPANY") IN GOOD FAITH AND FOR INFORMATION PURPOSES ONLY.
THESE MATERIALS ARE NOT DIRECTED AT OR ACCESSIBLE BY PERSONS LOCATED IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
Please read this notice carefully - it applies to all persons who view this webpage. Please note that the disclaimer set out below may be altered or updated. You should read it in full each time you visit the site.
Overseas Persons
Viewing the materials you seek to access may not be lawful in certain jurisdictions. In other jurisdictions, only certain categories of person may be allowed to view such materials. Any person resident outside the United Kingdom who wishes to view these materials must first satisfy themselves that there are no local requirements that prohibit or restrict access to these materials in their jurisdiction.
In particular, unless otherwise determined by the Company and permitted by applicable law and regulation, no offering of the securities mentioned in such materials (the "Securities") by the Company will be made, and no documentation will be sent, directly or indirectly, in or into, the United States, Canada, Australia or Japan.
The materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for the Securities in any jurisdiction in which such offers or sales are unlawful prior to registration or qualification under the securities laws of such jurisdiction. In particular, the Securities have not been and will not be registered under the US Securities Act of 1933, as amended, or any US state securities laws or qualified for distribution under the securities laws of Canada, Australia or Japan. Accordingly, subject to certain exceptions, the Securities may not be offered, sold, delivered or otherwise transferred in or into the United States, Canada, Australia or Japan, or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration thereof in, such jurisdiction. There will be no public offering of the Securities in the United States.
If you are not permitted to view materials on this webpage or are in any doubt as to whether you are permitted to view these materials, please exit this webpage.
Basis of access
Access to electronic versions of these materials is being made available on this webpage by the Company in good faith and for information purposes only. Any person seeking access to this webpage represents and warrants to the Company that they are doing so for information purposes only. Making press announcements and other documents available in electronic format does not constitute an offer to sell or the solicitation of an offer to buy securities in the Company. Further, it does not constitute a recommendation by the Company or any other party to sell or buy securities in the Company.
Confirmation of understanding and acceptance of disclaimer
By clicking on the "Agree" button, I certify that I am not located in the United States, Canada, Australia or Japan.
I have read and understood the disclaimer set out above. I understand that it may affect my rights. I agree to be bound by its terms. By clicking on the "Agree" button, I confirm that I am permitted to proceed to electronic versions of these materials.