CHARLOTTE, N.C. (July 14, 2008) — Forbo Siegling L.L.C. has acquired the assets of the Fenner Dunlop Lightweight PVC Conveyor Belting Division from Fenner P.L.C.
The purchaser also entered into a distribution agreement covering lightweight rubber belting products made by Fenner Dunlop Americas Inc.
The sale was made through Fenner Dunlop Americas, a division of Hessle, England-based Fenner, for an undisclosed amount. Fenner Dunlop said it sold the business because it wants to concentrate on its heavyweight conveyor belt operation, which has been growing via acquisitions and expansions in the last year.
Forbo Siegling, a subsidiary of Zug, Switzerland-headquartered Forbo Holding Ltd., said it acquired the division to further strengthen its Movement Systems Division. Revenues generated from the division's lightweight PVC and rubber belting products totaled about $30 million for fiscal 2007, according to the company.