Fenner makes third acquisition
ERJ staff report (DS)
Hessle, UK - Fenner PLC has made a third acquisition. The UK-based conveyor belt and seals company said it will buy substantially all of the assets of American Industrial Plastics, Inc, a privately owned company based in Florida, USA. The value of the AIP gross assets being acquired will be US$3.8m.
AIP is a precision machining company with the ability to machine advanced polymers for application in the oil & gas and medical markets as well as manufacturing performance precision components for a range of niche applications including aerospace. It will become part of the Fenner Advanced Sealing Technologies ("FAST") business within the AEP Division.
Last week Fenner announced the acquisitions of two Norwegian companies: Norwegian Seals and the hose technology supplier, Mandals Group.
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Press release from Fenner
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