Fenner Precision Announces Name Change And Company Expansion

MANHEIM, PA - February 12, 2007 - Fenner Precision, a global market leader in the design and manufacturing of mini-pitch polyurethane timing belts and rollers for paper propulsion markets, recently announced changes to the company name, and an expansion of its U.S. manufacturing facility.

Fenner Precision previously operated as the Precision division of Fenner Drives, a wholly-owned subsidiary of Fenner PLC. Fenner is a worldwide leader in reinforced polymer technology. Due to significant company growth, Fenner realized the need to realign the Precision and Industrial divisions of Fenner Drives, and better focus the efforts behind their timing belt and roller products which fell under the Precision unit. In September 2006, the company formally announced the split of the Precision unit from Fenner Drives, and the creation of a separate company, Fenner Precision. Fenner Drives continues to operate through their Industrial division.

"The creation of Fenner Precision allows us to pull together a much more focused, global effort to highly focused markets," states Anthony Watts, Global Marketing Manager for Fenner Precision. A large portion of Fenner Precision's business involves exporting - over 50% of their products are sent from the Americas overseas to Asia and Europe. The company operates manufacturing facilities in the United States (Manheim, PA) and the United Kingdom (Lincoln) and is supported by a worldwide sales network with offices in the United States, Asia and Europe. Prior to the name change, some offices in the UK operated under different names, all under the Fenner PLC organization. Now all global operations pertaining to Fenner's timing belt and roller products exist under the Fenner Precision name. Mr. Watts adds that global representation under one name will better position the company when dealing with multinational companies.

To support the growth of Fenner Precision, the company recently completed a major expansion of their facility in Manheim, Pennsylvania. Additional floor space was added to accommodate a 50% increase in the plant's production capacity. The current building was also upgraded to include a new state-of-the-art conference room, a new lunchroom and employee training area, and new second-floor offices. "As a result of our recent expansion, we're now able to deliver some of the most competitive lead times in the industry," says Erik Nadeau, General Manger for Fenner Precision.

The expansion has resulted in the hiring of more employees - the company has seen 25% growth in the past twelve months and continues to expand their workforce. "The plant expansion also provided the opportunity to relocate some of Fenner's production processes to make us even more efficient, which ultimately benefits our customers," explains Glenn Hoover, Manufacturing Engineering Manager.

In addition to being the market leader of polyurethane timing belts and rollers, Fenner Precision is also known for their rubber reinforced and un-reinforced flat belts, polyvee belts, PTFE/phenolic composites and glass/silicone composites. Fenner Precision's products are most widely used in ATM machines, commercial photocopiers, personal printers, power tools, and home appliances. Fenner moved to Manheim, PA in 1986 after purchasing the Manheim Belting Company, and is currently the largest manufacturing company located in Manheim, and the town's second-largest employer.

Photography is available upon request. For more information on Fenner Precision, or to arrange for a media interview, contact Brenda Devine, North Star Marketing, at (717) 392-6982, extension 108 or bdevine@northstar-m.com

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