Fenner sees signs of modest recovery

ERJ staff report (DS)

London -- Fenner PLC, the conveyor belt maker said it is "encouraged by signs of improvement and are well positioned, with a significantly reduced cost base, to benefit from a recovery in economic conditions."

The company issued a trading update saying it has seen robust performances across its coal related businesses, which represent the majority of the Conveyor Belting division. The company sounded a note of concern, saying, "with the tightening of customers' budgets, we are experiencing a temporary slowing of order patterns following the strong demand flows in the early part of the year.

The company added, "The new steel cord facility in Western Australia has recently been successfully commissioned, on time and to budget, and in North America our recent capital investment has begun to deliver the planned operational efficiencies."

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Press release from Fenner