FENR Fenner

TIDMFENR

RNS Number : 9134L

Fenner PLC

25 July 2017

25 July 2017

Fenner PLC

Long Term Supply Agreement & Disposal of Sales Branches in South Africa

Fenner PLC is pleased to announce that, through its subsidiary, Fenner Conveyor Belting (South Africa) (Pty) Ltd, it has signed a long term agreement with Bearing Man Group (Pty) Ltd ("BMG") for BMG to distribute Fenner Conveyor Belting products in specified territories in Sub-Saharan Africa. As part of this arrangement, BMG is acquiring the ECS service operations and related assets in South Africa. Fenner's South African conveyor belt plant will supply BMG with conveyor belting for South Africa and the other specified territories.

Mark Abrahams, CEO of Fenner commented: "This is an exciting opportunity for both Fenner and BMG and further strengthens the long term relationship that exists between the companies. This transaction will enable both companies to harness their respective strengths and develop the sales opportunities in South Africa and the wider Sub-Saharan territories for conveyor belting using the well-respected, and well established branch and distributor network operated by BMG, one of the strongest operators in Africa."

The transaction is conditional on clearance from the South African competition authorities.

For further information contact:

 
 Fenner PLC 
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 Mark Abrahams - Chief Executive Officer   Tel: 01482 626500 
  John Pratt - Group Finance Director 
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 Weber Shandwick Financial 
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 Nick Oborne / Tom Jenkins                 Tel: 020 7067 0700 
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This information is provided by RNS

The company news service from the London Stock Exchange

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