Fenner buys Australian seals maker

ERJ staff report (DS)

Perth, Australia -- Fenner PLC through a subsidiary has purchased 100 percent of the share capital of Transeals, which is a privately owned company based in Perth, Australia. Fenner said the unaudited value of the gross assets acquired was A$5.586m (euro 4.06 million). as at 30 June 2011. The transaction is expected to complete in early September 2011.

Transeals manufactures and distributes seals used in hydraulic equipment, currently serving the western parts of Australia. This strategic acquisition was made by fenner subsidiary, Hallite Seals Australia Pty Ltd ("Hallite"), which is mainly east coast based, to develop its aftermarket presence in the buoyant mining and oil and gas markets of Western Australia.

Fenner said, "With the capability for same day or early next day delivery, the combination of Hallite and Transeals will offer unparalleled availability of seals throughout Australia. "

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Press release from Fenner