September 8, 2008
Engineer Fenner Predicts ‘Top End’ Results for Year
The Hessle-based engineering company said group operations have performed strongly in the final quarter of its 2008 year. Fenner noted in a statement that its North American conveyor belt business has experienced significant raw material cost increases which continue to be passed onto customers. The ensuing time lag has constrained margins temporarily, said the company. "Elsewhere the belting businesses have seen healthy trading with good order levels," said the statement.Fenner's products include medium-weight and heavyweight conveyor belting for the mining and power generation markets; precision motion control products for the office automation and mechanical equipment markets; sealing products for the mining, hydraulics and energy industries and technical textile structures for medical and industrial applications.Fenner's Advanced Engineered Products has traded well, said the company, overcoming uncertainty in some markets. The statement added: "The mining sector exposure has remained buoyant, and our development opportunities are encouraging. The rolling commissioning of our major investment projects continues and will contribute to operations in 2009."Our acquisitions have all shown encouraging starts and we expect to complete the purchase of Conveyor Services Corporation Group within the next 6 weeks, which will enhance the service offering from our Conveyor Belt Division."The results are scheduled to be announced on November 12.
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