4 Sep 2019
Paris – UK engineering group Fenner plc has registered sales of €468 million in the first half of 2019, according to Groupe Michelin, which acquired Fenner last May.
Over the six months to end of June, Fenner also contributed €67 million to the Michelin's operating income, and €28 million to net income, the French tire maker said in its financial results in July.
The company did not offer prior-year comparisons for Fenner's results.
Michelin expects Fenner’s acquisition to help it provide its mining industry customers with a comprehensive offering, ranging from tires to conveyor belts with related services and solutions.
In April, Michelin reported “major contract wins” for Fenner’s Engineered Conveyor Solutions (ESC) division, which underwent major consolidation in 2016.
On high-technology materials activities, the French tire maker anticipates that the transaction would broadens its high-technology materials expertise and innovation.
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