Fenner to acquire plastics firm in US
Reinforced polymer technology firm Fenner is planning to acquire the majority of the assets of American Industrial Plastics (AIP), a privately owned company based in Florida, US.
Reinforced polymer technology firm Fenner is planning to acquire the majority of the assets of American Industrial Plastics (AIP), a privately owned company based in Florida, US.
Under the deal, which is expected to complete in early September, Fenner will acquire the firm through a newly incorporated wholly owned subsidiary.
The value of the acquired assets will be $3.8m.
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
AIP is a precision machining company which can produce advanced polymers for application in the oil and gas and medical markets, as well as manufacturing performance precision components for a range of applications, including aerospace. AIP will become part of the Fenner Advanced Sealing Technologies (FAST) business within the AEP Division.
Nick Hobson, Chief Executive Officer of Fenner, said: "AIP's proprietary manufacturing technologies, which include polymer machining techniques with unprecedented levels of precision, complement FAST's existing capabilities and business in the oil and gas and medical markets."
Shares were 0.63% higher at 383.4p by 15:53.
NR
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Cash in on the growth prospects of Europe's companies
Opinion Marcel Stötzel, co-portfolio manager of the Fidelity European Trust, selects three stocks
By Marcel Stotzel Published
-
Is the AI boom another dotcom bubble?
25 years on from the dotcom bubble bursting, is it time for investors to consider the sustainability of the AI boom in the stock market?
By Dan McEvoy Published