Fenner sells stake in SA conveyor belt unit

Hessle, Yorkshire - Fenner PLC has agreed to dispose of a 25 percent minority interest in its South African conveyor belting business at cost to Peotona Group Holdings (Pty) Limited, a black controlled enterprise. This joint venture is undertaken for the purposes of South Africa's broad based Black Empowerment programme.

Commenting on the transaction, Mark Abrahams, chief executive of Fenner PLC, said 'I am delighted to have a highly respected partner in South Africa who will help the business to grow in the new black empowered environment'.

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Press release from Fenner PLC

Website of Fenner-Dunlop conveyor belt company