Fenner seals deal in Australia

HESSLE-based Fenner today revealed that it had secured a deal through one of its subsidiaries to buy a company in Australia.
By The Newsroom
Published 23rd Aug 2011, 10:21 BST

Fenner announced that its wholly owned subsidiary Hallite Seals Australia Pty has exchanged contracts to purchase 100 per cent of the share capital of Transeals, which is a privately-owned company based in Perth, Australia.

The transaction is expected to complete in early September. Transeals manufactures and distributes seals used in hydraulic equipment, and serves the western parts of Australia. Fenner said the acquisition allowed Hallite to develop its after market presence in the mining and oil and gas markets of Western Australia.

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Nicholas Hobson, the chief executive of Fenner, said “This is an exciting development for our Australian seals business. It improves our coverage, expands our product offering and strengthens Hallite’s position as the leading supplier of seals to the Australian hydraulics market.”

Fenner’s products include conveyor belts for the mining and power generation markets.

Related topics:Western AustraliaPerth