DSI Underground Australia agreed to acquire Fero Group Pty Ltd. Employing 300 people, DSI Underground Australia supplies strata reinforcement and ground support products for the underground mining, infrastructure and construction sectors. Fero Group is a steel manufacturing and anti-corrosion service company. It has manufacturing operations in Kewdale, Western Australia, and Narangba, Queensland. The owners of Fero, the Franco family of Perth, agreed to invest part of the sale proceeds into DSI Underground Australia’s parent company, DSI Underground Holdings S.a.r.l., and will become a significant shareholder in DSI Underground’s global mining business. Terms of the acquisition have not been disclosed, and the transaction is conditional on regulatory approval.
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