ERJ staff report (DS)
London -- Fenner PLC has bought 100% of the share capital of Multiseals which is a privately owned company based in Singapore.
Multiseals manufactures and distributes seals to the oil and gas industry in the Asia-Pacific Region. This strategic acquisition will allow Fenner Advanced Sealing Technologies ("FAST") to exploit the expanding Asian aftermarket for its Oil & Gas products.
Total consideration for the acquisition is Singapore $14.425 million. The acquisition was carried out by Fenner Singapore Pte Limited, a 100 percent subsidiary of Fenner and tthe purchase will be partially funded by a new share issue.
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
Press release from Fenner