Fenner announced last month it planned to purchase Unipoly Enerka, the belting division of Unipoly S.A., for $US68.5 million.
Unipoly Enerka manufactures heavyweight and lightweight belt of both ply and solid woven construction together with a number of specialist niche products. In Australia, the company operates under the name Apex-Enerka and has belt manufacturing plants in Melbourne as well as a 12-location belt service business in Australia.
Unipoly Enerka manufactures heavyweight and lightweight belt together with a number of specialist niche products using the "Dunlop" name. In 2000, it reported a turnover from its continuing activities of £117.6 million. In Australia, Unipoly Enerka owns Apex-Enerka of Australia
Completion of the acquisition, which is subject to shareholder and regulatory approvals, is scheduled for the end of December.
"Following the repositioning program completed in 2000, Fenner is now a global conveying and industrial motion control group specializing in the manufacture and distribution of reinforced polymer products," Fenner CEO Mark Abrahams said in a statement.
He added that the Unipoly Enerka acquisition is another significant step in growing Fenner's reinforced polymer business.
The combined companies will allow the new, larger Fenner to provide products for a wider range of applications for more customers, and the reduction of lifecycle costs of conveying, Fenner said. The two operations will combine Fenner's strength in the coal market with Unipoly Enerka's position in wider industrial applications. Fenner said it plans to invest in new capital equipment for Unipoly Enerka to improve and restore productivity and ease consolidation with its business.
The combined businesses will have an increased product offering thereby enabling the Enlarged Group to provide solutions for a wider range of applications to a greater number of customers which, in turn, will provide them with the opportunity to reduce their lifecycle costs of conveying. In this way Fenner aims to be the conveyor belt supplier of choice.
