Fenner acquires precision polymer specialist Revolution Drives through subsidiary

Reinforced polymer technology group, Fenner announced on Tuesday that it had acquired small Pennsylvania-based specialist precision polymer firm Revolution Drives on 25 August.

The group is focussed on power transmission and motion control solutions both inside the United States and internationally.

Mark Abrahams, chief executive of Fenner, said, "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."

Polymer technologies are used in a variety of sectors including, oil and gas, chemical processing, pharmaceutical, food and beverage, semiconductor, marine, and aerospace and defence.

As of 1345 BST, Fenner shares were down 0.55% to 351.31p.