MANHEIM, Pa.—Michelin-owned Fenner Precision Polymers looks to expand its conveying product offerings with the acquisition of Lumsden Corp.
Lumsden, a Lancaster, Pa.-based maker of industrial conveyor belting and wire cloth for the quarry and mining industry, offers excellent growth potential for Fenner Precision Polymers, according to a news release issued by Michelin. Additionally, the deal would help to solidify Fenner's reputation as a supplier of highly specialized conveying products and introduces new opportunities like metal screening for infrastructure, mining and road applications.
"Strong potential growth, market share gains and an opportunity to expand into new belting markets are all compelling reasons why Lumsden Corp. will play a critical role in our strategy," Jack Krecek, divisional managing director for Fenner Precision Polymers, said in a statement
Terms of the deal were not disclosed.
With the acquisition, Fenner would bring three major brand categories under its umbrella: Hoyt Wire Cloth, Wiremation Conveyor Belting and Flexx Flow.
Hoyt Wire Cloth, Fenner said, often is used in crushed stone, sand and gravel, concrete and asphalt, coal and recycling applications. Wiremation and Flexx Flow are focused on food processing, though Wiremation also is used in heat treating, fiberglass, glass and steel applications.
"Lumsden is not only a respected leader in the belting industry—and one that greatly adds to our product portfolio—it is also a longtime Lancaster institution, with a presence here of more than 45 years," Krecek said. "Precision Polymers is looking forward to adding the Lumsden operations to our portfolio of businesses in Lancaster County and we warmly welcome all Lumsden employees to our family."