March 20, 2018
To All Secant Group Partners:
It was announced on March 19th that Fenner PLC (parent company of the Secant Group and SanaVita Medical) has agreed to terms with Michelin for a transaction which, once completed, will lead to Fenner becoming part of the Michelin Group. Michelin is best known as one of the world's leading tire companies. It is headquartered in Clement-Ferrand, France and has extensive operations throughout the world. Michelin is a leader in the development of high-technology polymer products for a wide variety of markets.
Michelin has been very complimentary of the Fenner business approach and its overall strategy for the future. We believe the Fenner culture and business strategy to be an excellent combination with those of Michelin. Both companies are highly innovative and are customer solution oriented.
Michelin fully intends to support the growth and development of the technical materials and medical business units of the Secant Group and has the ability to provide a high level of support due to its sheer size. The acquisition would expand Michelin's end-market coverage, from heavy industrials into industrial products, consumer goods, medical products and pharmaceuticals.
The Secant Group is confident this new ownership structure will be of great benefit to all our current and future partners. Secant is very excited about the future of our partnerships and all the possibilities on the horizon.