Jennmar will acquire 100 percent of DSI Mining’s manufacturing assets in the United States. DSI’s entire mining division will be integrated into Jennmar USA. Closing of the transaction is expected within 30 days.
Jennmar’s executive vice president, Tony Calandra commented, “DSI’s strong presence in western U.S. hard rock mining will further strengthen Jennmar’s position in this segment of the market. On the other side, its activities in coal mining will complement our existing strong footprint and close some gaps in our offering.”
DSI will be acquiring Jennmar Latin America (Mexico, Chile, and Peru). Closing of the transaction is expected within 30 days.
DSI will also be acquiring Jennmar’s companies in Europe (Jenmar Spain, Jennmar Multitex in the Czech Republic, Jennmar Merol in Poland). Closing of the transaction is expected within 30 days.
In addition, DSI will be acquiring Jennmar Australia. The date of close is subject to review by the Australian Competition Commission.
Patrik Nolåker, Group CEO of DSI, commented on the transaction; “Soft commodity prices and supply/demand imbalances represent important challenges to our customers in mining. Through this acquisition DSI will combine the strengths of two well established market players, which will allow it to provide its customers a superior offering, both from an efficiency and a product & service portfolio perspective.”
FCI will also be selling a 50 percent stake in its Chinese subsidiary Jennmar Asia (Jining) creating another Rocbolt Technologies joint venture between Jennmar and DSI. This latest combination will do business as ROCBOLT Technologies (China) and joins two other successful joint ventures between Jennmar and DSI, Rocbolt Technologies (South Africa) and Rocbolt Resins (Australia).
Calandra and Nolåker both explain that they are, “enthusiastic about the establishment of a third Rocbolt joint venture in China to complement the two established ventures in Australia and South Africa.”