Reinforced polymer technology manufacturer Fenner's wholly owned subsidiary Fenner Dunlop Americas has acquired the operating assets of Allison Custom Fabrication, from a group of related privately owned entities based in Pennsylvania.
The unaudited value of the gross assets of Allison was $6.471m as at 31 December 2010.
The firm specialises in the design, engineering, machining and metal fabrication of customised material handling equipment, primarily for the mining markets of Pennsylvania and West Virginia.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chief executive officer of Fenner, Nicholas Hobson, said: "This is a significant development for the Fenner Dunlop Engineered Conveyor Solutions offering in the Americas. We have again expanded our capabilities and have broadened our offer to manage the life cycle of our customers' conveyors.
"This acquisition further consolidates Fenner Dunlop's position as the leading supplier of conveyor products and services to the North American markets."
Fenner's share price fell 0.74% to 389.1p by 09:19.
NR
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
