UK’s Fenner Precision Polymers, a Michelin Group Company and supplier of
reinforced polymer technology, has acquired Lumsden Corporation, a manufacturer of industrial conveyor belting and wire cloth for the quarry and mining industry, as well as related solutions for a wide variety of applications including food processing, heat treating, mining, glass treating, printing and canning.
The deal is said to strengthen the position of Fenner as a supplier of
highly specialised 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 Corporation will play a critical role in our strategy,” said Jack Krecek, Divisional Managing Director, Fenner Precision Polymers. “Lumsden is not only a respected leader in the belting industry – and one that greatly adds to our product portfolio – it is also a long time Lancaster institution, with a presence here of more than 45 years. 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.”
Lumsden Corporation has three major brand categories: Hoyt Wire Cloth,
Wiremation Conveyor Belting and Flexx Flow. Hoyt Wire Cloth is largely used in crushed stone, sand and gravel, concrete and asphalt, coal, and recycling applications. Wiremation is focused on food processing, heat treating, fiberglass, glass, and steel applications. Flexx Flow serves food processing markets identical to Wiremation. Under the acquisition, all product brands will be retained and rolled up under the Fenner Precision Polymers portfolio of belting and high-value component solutions.
“Without question or reservation, this partnership is just the move we
envisioned to take our business to the next level,” said Glenn Farrell, CEO,
Lumsden Corporation. “We’ve considered offers prior to this in the past, but
always in the back of our mind was the thought of how ideal it would be to
partner with Fenner, where we share the same location, similar markets, and the simple fact that they are such a trusted industry leader.”
The acquisition of Lumsden Belting aids Fenner Precision Polymers in
advancing its growth strategy and business objectives, which supports
Michelin’s growth objectives in markets “Beyond Tires.”
It expands core product offerings in belting and high-value components,
which increases penetration in food processing and expands reach into other applications such as crushed stone, sand, and gravel which will likely find significant growth based on the infrastructure investments planned in the US over the next decade. It also creates a natural extension into the company’s R&D process with polymer development, providing opportunities to engineer next-generation materials.