Fenner sells lightweight PVC belt unit
ERJ staff report (DS)
Hessle, UK -- Fenner, via its wholly owned subsidiary Fenner Dunlop (Charlotte) Inc. has today agreed the disposal of it's Lightweight Conveyor Belt operations based in Charlotte, North Carolina, to Forbo Siegling LLC, a whole owned subsidiary of Forbo Holding Ltd. based in Baar, Switzerland.
The Charlotte operations that are the subject of the disposal, manufacture a range of lightweight PVC conveyor belts used in a wide variety of industrial applications. The gross assets that are the subject of disposal amount to around $7.8 million subject to any inventory adjustment.
Mark Abrahams, CEO of Fenner said "This disposal allows Fenner Dunlop Americas to concentrate on its heavyweight conveyor belting business primarily for mining applications and especially for coal mining. The recent announcement of the proposed acquisition of the Conveyor Services Corporation Group reflects our continued investment in our North American heavyweight conveyor belting businesses".
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Press release from Fenner plc
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