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:
Nicholas Hobson, Chief Executive 01482 626501
Richard Perry, Finance Director
Weber Shandwick Financial
Nick Oborne/ Stephanie Badjonat 020 7067 0700