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4 Jul 2011 07:00
4 July 2011
Fenner PLC ("Fenner" or the "Company")
Fenner acquires Statewide Belting Service Pty Ltd ("Statewide")
Fenner is pleased to announce that on 1st July 2011 its wholly owned subsidiary Enerka Apex Belting Pty Ltd acquired 100% of the share capital of Statewide, which is a privately owned company based in Burnie, Tasmania. Fenner acquired gross assets valued at 30 June 2010 at AUD$3,945,000.
Statewide specializes in the provision of belting products, accessories and installation services to the mining and manufacturing industries in Tasmania.
Nick Hobson, CEO of Fenner PLC, commented that "Statewide represents a further strategic piece of the Fenner Dunlop Australia ("FDA") service network and will broaden the reach of our value added service model. Moreover it reinforces FDA's position as the leading provider of conveyor products, solutions and service to the buoyant mining and resource markets in Australia".
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.
-ends-
For further information please contact:
Fenner PLC
Nicholas Hobson, Chief Executive 01482 626501
Richard Perry, Finance Director
Weber Shandwick
Nick Oborne/ Stephanie Badjonat 020 7067 0700
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