Acquisition of MRI Manufacturing & Research, Inc

Fenner PLC ("Fenner")

Acquisition of MRI Manufacturing & Research, Inc ("MRI Medical")

Fenner is pleased to announce that it has acquired 100% of the share capital of MRI Medical, a privately owned corporation based in Tucson, Arizona, USA. Gross assets of $2.6 million were acquired through the transaction.

MRI Medical is a start-to-finish development and manufacturing company that designs, validates and manufactures cutting-edge, silicone-based devices for its customers, which are medical device companies.

Mark Abrahams, CEO of Fenner commented that "MRI Medical expands Fenner's expertise in polymer and elastomer engineering, and is a further demonstration of the AEP division's focus on performance critical applications."

"MRI Medical and Secant Medical, which we acquired as part of Prodesco in 2008, are both wholly engaged in the Medical industry, using business models which enable their customers to introduce less-invasive medical devices. The acquisition of MRI Medical is another important step towards the goal of building a significant presence for Fenner in the medical industry."

Fenner is a world leader in the field of reinforced polymer engineering. Products include conveyor belting for the mining and power generation markets; precision motion control products for the office automation and mechanical equipment markets; sealing products for the mining, hydraulics and energy industries; technical fabrics and polymer products for the medical device industry.

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