Fenner reports flat business in third quarter

London – Fenner PLC has reported a mild recovery in its oil & gas business, while its hard-hit conveyor belts systems business (ECS) is still under global pressure.

However, the company has remained upbeat that its improvement plans would help it achieve operational efficiencies and market-share gains.

In a trading update on 13 July, the Fenner said that a recent small increase in the US rig count, combined with increased market share, is expected to benefit the oil & gas business of its advanced engineered products (AEP) operation.

However, given…

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