JENNMAR announced it has entered into five separate agreements with DYWIDAG Systems International (DSI). JENNMAR will acquire 100% of DSI Mining’s manufacturing assets in the United States. DSI’s entire mining division will be integrated into JENNMAR USA.
JENNMAR Executive Vice President Tony Calandra said, “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, which includes Mexico, Chile and Peru, as well as JENNMAR’s companies in Europe (JENNMAR Spain, JENNMAR Multitex in the Czech Republic, JENNMAR Merol in Poland). All are expected to close in 30 days. In addition, DSI will be acquiring JENNMAR Australia. The finalization of the transaction is contingent upon review by the Australian Competition Commission.
Patrik Nolåker, group CEO of DSI, said, “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.”
In addition to these transactions, FCI is selling a 50% stake in its Chinese subsidiary JENNMAR Asia, creating another ROCBOLT Technologies joint venture between JENNMAR and DSI. These companies will do business as ROCBOLT Technologies (China) and will join two other successful joint ventures between JENNMAR and DSI, ROCBOLT Technologies (South Africa) and ROCBOLT Resins (Australia).