Fenner Precision Acquires Winfield Industries
Combination will produce stronger solutions in belts, rollers and pulleys
MANHEIM, PA - March 5, 2008 - Fenner Precision finalized the acquisition of Winfield Industries, Inc. on March 3, 2008. Fenner Precision is a leader in design, development and manufacture of belts, rollers and pulleys for the paper propulsion industry. Winfield Industries, Inc. is a leading North American manufacturer of polyurethane and silicone rollers for digital imaging, medical and diagnostic imaging applications. The addition of Winfield Industries' strengths will enhance Fenner Precision's technology base, production capabilities, product offering and industries served.
The acquisition combines Winfield Industries' 40 years of expertise and ground breaking research, development and class leading chemistry in high performance polymer based rollers with Fenner Precision's global experience in the development and manufacturing of polyurethane mini-pitch timing belts, rubber flat belts and high performance polyurethane and silicone tires for office automation and paper propulsion applications. The combined company will focus on providing a more comprehensive line of solutions.
"Bringing together the Winfield and Fenner Precision businesses and products will enable us to offer a comprehensive problem solving range of products to the paper propulsion industry and to our customers in the U.S., Asia and Europe," said Mike Thompson, President of Fenner Precision.
"The combination of Winfield's custom molded and Fenner Precision's polymer reinforced fabric technology will enable us to offer a broader range of solutions to our customers through a jointly formed global sales and marketing organization," said Jeffrey Oak, President of Winfield.
The Winfield Buffalo, NY facility will continue to operate at the current site, but under the Fenner Precision name.
About Fenner Precision
Fenner Precision is a global leader in the design and development of belts, pulleys and tires for paper propulsion, motion control and power transmission applications including consumer printers, office machines, mail handling machines and money handling equipment. Fenner Precision is a wholly-owned subsidiary of Fenner PLC. For more information, visit www.fennerprecision.com.
