29 Aug 2017 07:00
29 August 2017
Fenner PLC
Acquisition of Revolution Drives Inc.,Precision Polymers business in the United States
Fenner PLC is pleased to announce that on 25th August 2017, through its subsidiary Fenner Drives Inc., it acquired the assets and business of Revolution Drives Inc. ("Revolution Drives"), a small specialist precision polymers business focussed on power transmission and motion control solutions, located in the United States and with an international customer base.
Mark Abrahams, CEO of Fenner, commented: "This acquisition supports our stated strategy to grow our Advanced Engineered Products ("AEP") division and in particular it will complement the product and customer portfolio of our Precision Polymers business within AEP. I am also pleased to say that Revolution Drives' CEO and majority shareholder has joined Fenner's Precision Polymers business and will work with our existing team there to help deliver continued growth."
For further information contact:
Fenner PLC | |
Mark Abrahams - Chief Executive Officer John Pratt - Group Finance Director | Tel: 01482 626500
|
Weber Shandwick Financial | |
Nick Oborne / Tom Jenkins | Tel: 020 7067 0700 |
Fenner PLC is a world leader in reinforced polymer technology, providing local engineered solutions for performance‐critical applications.