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Fenner plc's Fenner Dunlop Australia Pty Ltd Announces Acquisition Of Australian Conveyor Engineering

Friday, 26 Oct 2012 02:00am EDT 

Fenner plc's Fenner Dunlop Australia Pty Ltd announced that it has exchanged contracts to purchase 100% of the share capital of ACE, a privately owned group of companies based in Somersby, New South Wales, Australia. The audited value of the gross assets being acquired was AUD16.0million (GBP10.4million) as at June 30, 2012. The transaction is expected to complete at the end of November 2012. ACE specialises in supplying engineered conveyor solutions for the design, manufacture and installation of high capacity conveyor systems for both surface and underground mining, with the capability to take projects from the initial concept to the commissioned conveyor system. The acquisition furthers Fenner Dunlop's strategy of being the supplier of choice for engineered conveyor solutions in Australia, offering mining customers integrated solutions for improving the safety and total cost of materials handling. 

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