DSI completes acquisitions in Canada, Australia and South Africa in Mining
- Acquisition of 100% of JENNMAR Canada strengthens DSI’s mining capabilities in Canada
- Acquisition of 49% in J-LOK® Resins allows DSI to have own manufacturing of resin capsules in Australia
- Establishment of a bolt and resin joint venture with JENNMAR in South Africa
August 1st 2014. DSI is pleased to announce that it has entered into three separate agreements to acquire Mining businesses in Canada, Australia and South Africa, thus strengthening its local footprint in these important mining markets.
DSI has acquired 100% of JENNMAR’s Canadian mining business. JENNMAR Canada will be integrated into DSI Canada Mining, combining key assets of both companies and allowing it to deliver its customers a more comprehensive product and service portfolio as well as an improved purchasing and logistical proposition.
DSI has purchased a 49% stake in the Australian resin capsules manufacturer J-LOK® Resins Australia. The remainder of the shares will continue to be held by JENNMAR. The joint entity, renamed as ROCBOLT Resin Pty Ltd, will manufacture both FASLOC® (DSI) and J-LOK® (JENNMAR) branded resin capsules to be sold by DSI Australia and JENNMAR Australia respectively.
DSI has signed a binding agreement to acquire 50% of the shares in South African resin capsule manufacturer ROCBOLT Resins currently held by Max Hahn and Associates. At the same time, JENNMAR will purchase shares in DSI South Africa from DSI’s previous South African joint venture partner Capital Africa Steel (CAS). ROCBOLT Resins, DSI South Africa and JENNMAR’s recently established bolt business will be integrated into a new business structure and operated as a partnership by DSI, JENNMAR and their BEE partners. The new entity, will be positioned as the premier ground support supplier in South Africa, enabling a significantly enhanced customer service and ultimately improved product offering to our customers. The South African transactions are subject to competition clearance.
Patrik Nolåker, CEO of DSI, said: “These investments are major steps for DSI, which will strengthen our product portfolio and presence in key mining markets. We appreciate the support from our owners Triton on the structuring and financing of these acquisitions.”