Hessle, UK - Conveyor belt group Fenner says its subsidiary, Fenner Norway AS, is purchasing Mandals, a privately owned group of companies based in Norway and Sweden.
Mandals is a manufacturer of innovative lay flat and speciality polyurethane hoses for use in demanding applications. It also makes the circular looms used for making the woven fabric used in the production of these hoses.
Fenner, which also makes engineered polymer products, said Mandals is "an acknowledged market leader in its industry," with products sold around the world.
The acquisition builds on the expertise of Fenner's Advanced Engineered Products Division, providing performance critical applications to the agricultural, infrastructure, potable water and oil and gas markets.
The value of the assets Fenner is buying was NKr 91.3 million ($15.3 million) at 31 Dec 2011. Fenner expect to finalise the deal in early September 2012.