Michelin Group has acquired Fenner PLC, a global provider of reinforced polymer technology. Headquartered in Hessle, United Kingdom, Fenner operates two divisions: Advanced Engineered Products (AEP), a leading player in diversified polymer-engineered products, and Engineered Conveyor Solutions, the second largest producer of heavy conveyor belts and a global player in the heavy and complex conveyor belt solution market.
Fenner’s AEP division includes EGC Critical Components, CDI Energy Products, and AIP Precision Machining — each of which has deep roots within the oil and gas market.
EGC Critical Components designs, engineers, and manufactures performance-critical components, such as wear products, seals, and connectors, for use in pumps, valves, and compressors.
CDI Energy Products is a provider of performance-critical seals to the conventional and unconventional oil and gas industries. Continued investment in materials science and product development has enabled CDI to meet the increasingly stringent demands of the US fracking industry, thereby strengthening its market position.
AIP Precision Machining manufactures polymer and composite components to extreme tolerances (less than 0.002 mm).
Headquartered in Clermont-Ferrand, France, Michelin, perhaps best known for its tires, is a global provider of high-tech materials. The addition of Fenner’s polymer portfolio will help Michelin expand its reach into the reinforced polymer markets and grow its presence throughout the oil and gas industry. Thanks to Fenner, Michelin gains new materials expertise in high-tech non-rubber polymers, thermoplastic elastomers, and complex textile reinforcements. In addition, the deal increases Michelin’s access to Latin America and Asia.
The integration of Fenner into Michelin’s value stream will bring significant opportunities to achieve material cost savings, to increase research and development capabilities, and to unlock processing efficiencies.
“Michelin values the skills, experience, and industry knowledge of the Fenner group’s management and employees,” said Jean-Dominique Senard, CEO of Michelin. “Mastering high-technology materials is key to creating value in the coming years. Fenner will enable Michelin to accelerate its growth in this area.”