Fenner acquires the assets of American Industrial Plastics

Reinforced polymer technology specialist Fenner has exchanged contracts to acquire the assets of American Industrial Plastics (AIP), a privately owned company based in Florida, US.

The value of the AIP gross assets being acquired is $3.8m (£2.4m). The transaction is expected to be completed in early September 2012.

AIP — which will become part of the Fenner Advanced Sealing Technologies (FAST) business — is a precision machining company with the ability to machine advanced polymers for applications in the oil and gas and medical markets, as well as precision components for niche applications, including aerospace.