PARIS—Michelin released performance data for Fenner P.L.C., marking the first time it has done so since acquiring the company last year.
Fenner registered 3 percent growth in sales for the first three months of 2019, Michelin noted in its first quarter presentation April 24. The gains included "major contract wins" for Fenner's Engineered Conveyor Solutions division, which underwent major consolidation in 2016.
The ECS unit, Michelin said, has a record backlog in mining and manufacturing sectors, with a "highly competitive product portfolio."
Fenner's Advanced Engineered Products division also registered growth "on strong value-creating niche markets," Michelin said.
Michelin acquired Fenner in May 2018 and expects to achieve synergies of about $76 million from the takeover by 2022.
In its 2017 annual results, Fenner said it had left recovery mode and was tracking "sustainable growth."
The company's underlying operating profit came in at $77 million for the year, 59 percent higher than 2016, on 14 percent higher sales of $866 million.