Fenner™ Precision Polymers Advances Its Growth Strategy with the Acquisition of Metal Conveyor Belt Manufacturer, Lumsden Corporation
Based in Lancaster, Pa. for more than 45 years, Lumsden Corporation will remain a part of the Central Pennsylvania business economy, while expanding the portfolio of belting and high-value component (metal) solutions for Fenner™ Precision Polymers
LAVAL, QC, Oct. 1, 2021 /CNW/ – Fenner™ Precision Polymers, a Michelin Group Company and world leader in reinforced polymer technology, announces the acquisition of Lumsden Corporation, a leading 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 strengthens the position of Fenner Precision Polymers as a leading supplier of highly specialized 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 longtime 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 U.S. 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.
ABOUT FENNER PRECISION POLYMERS
Fenner Precision Polymers is a Michelin Group Company. With over 900 employees worldwide, Fenner Precision Polymers is a trusted supplier of engineered solutions for performance-critical applications. The company’s product lines support clients across a variety of industries including 3D printing, document handling, transportation, mining, agriculture, aerospace, climate control, material handling, food processing, and manufacturing. Product lines include, but are not limited to, coated fabrics and technical textiles, link belting for power transmission and conveying, keyless locking devices, Eagle polyurethane belting, silicone and organic rubber hoses, customized bearing solutions, and PowerMax composite products. Learn more about Fenner Precision Polymers and its subsidiaries, Fenner Drives, Fenner Precision, James Dawson, Fabri Cote, and MAV S.p.A.
SOURCE Michelin North America (Canada) Inc.
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