MANHEIM, Pa., Dec. 2, 2020 /PRNewswire/ -- Fenner™ Precision Polymers, a Michelin Group Company and world leader in reinforced polymer technology, announces the acquisition of MAV S.p.A., a leading European supplier of keyless-locking devices (KLD), shrink discs, rigid couplings, and other metal products. Strong potential growth, market share gains and an opportunity to leverage the many advantages associated with a global supply chain are among reasons cited for the acquisition. No employee redundancies or loss of roles are anticipated because of this agreement.
"Under ideal circumstances all parties benefit during an acquisition, and that is certainly the case here," said Jack Krecek, Divisional Managing Director, Fenner Precision Polymers. "All customers, including those in underserved and emerging markets, will benefit from our combined technical expertise, speed to market and turnaround times. MAV will continue operating under its esteemed brand, while also gaining access to a global sales force with considerable client relationships. This allows Fenner Precision Polymers to become the global leader in keyless locking devices. The acquisition further adds technical design expertise to our ranks, allows us to vertically integrate solutions and vastly improves our positioning in the global supply chain."
For years Fenner Precision Polymers worked to reestablish a previous relationship between MAV and Fenner Drives B-LOC Keyless Bushings. "The original partnership between our companies helped establish the KLD market in North America," said Krecek "It is our goal to re-establish that link so that we can leverage the combined strengths of both companies to grow our business outside of North America."
"The expression 'small is beautiful' has long defined Italian ingenuity," said Sandro Zamboni, CEO, MAV. "Though a small company, when viewed through the eyes of globalization, MAV's expertise looms large. We've successfully penetrated distant markets, strengthened relationships with customers and earned their trust and respect. However, we've now grown too big to remain small. This venture welcomes MAV to a larger multinational organization and better positions it to serve all markets. Joining with Fenner Precision Polymers offers a tremendous benefit to our customers as well, through our combined technical acumen, the resulting innovations in engineered solutions and the anticipated benefits from economies of scale."
ABOUT FENNER PRECISION POLYMERS
Fenner Precision Polymers is a Michelin Group Company. With over 800 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 solution, and PowerMax composite products. Learn more about Fenner Precision Polymers and its subsidiaries, Fenner Drives, Fenner Precision, James Dawson, and Fabri Cote.
| Media Contact | Fenner Precision Polymers | MAV S.p.A. |
| Sam Wells, (202) 888-4600 | Lynne M. DeMers-Hunt, (717) 572-0394 | Elisa Perazzoli +39 0461-845151 ext. 101 |
| sewells@sewellscomms.com | lynne.hunt@fennerppd.com | eli.per@mav.it |
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SOURCE Fenner Precision Polymers
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