Posted in | News | Plastics and Polymers | Business | Electronics | Aerospace Materials

Fenner Acquire Fluoroplastics Manufacturer EGC

Oct 10 2006

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Fenner, through its wholly owned subsidiary, CDI Seals, Inc. ('CDI') is pleased to announce the acquisition today of substantially all of the operating assets and liabilities of EGC, a Houston based manufacturer of fluoroplastic seals and other related fluoroplastic precision components. EGC was acquired from CPO a company quoted on the French Stock Exchange.

EGC was acquired for a cash consideration of US$15 million and had a turnover in 2005 of US$34m. The acquisition represents an opportunity for CDI to broaden its product offering and materials technology expertise in high value performance critical applications in the electronics, pumps, valves, compressors, aerospace and oil and gas industries.

Mark Abrahams, CEO of Fenner said ' We are delighted with the acquisition of EGC which brings new opportunities to CDI. Over the next 18 months we intend to relocate EGC onto the CDI site at Humble, Texas, which will enable us to extract the operational benefits from the merged businesses.'

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