Sandvik Acquires DSI Underground Joint Ventures, Rocbolt Technologies
[Click image to enlarge]
Sandvik’s acquisition of DSI Underground closed on July 7, 2021. The acquisition included DSI’s ownership stake in four joint ventures Rocbolt Technologies based in China, South Africa, Mongolia, and Australia.
DSI Underground is a global leader in ground support and reinforcement products, systems, and solutions for the underground mining and tunneling industries.
On August 3, 2021, Sandvik signed and completed three agreements to acquire the joint venture partner’s (Jennmar) share of the Rocbolt Technologies JVs in China, South Africa, and Mongolia. Jennmar will continue to be a JV partner in Australia.
Rocbolt Technologies will be reported in the Ground Support Division of business area Sandvik Mining and Rock Solutions.
In 2020, DSI Underground had revenues of about EUR 4516 million (excluding the four joint ventures). The three JVs that will now be fully consolidated had revenues of around EUR $80 million in 2020.
Both parties have agreed not to disclose the purchase price.
About Sandvik
Sandvik Group is an engineering company that operates in the areas of mining and rock excavation, metal-cutting, and materials technology. It offers metal-cutting tools and tooling systems, including boring, drilling, milling, reaming, and turning tools, as well as tailor-made tools and inserts and tooling systems. The company also provides stainless steels, special alloys, and titanium products comprising bar and hollow bars, controlled expansion alloy products, billets and blooms, hot isostatic pressed products, metal powders, plates and sheets, strip steels, and welding and wire products, as well as tubes, pipes, fittings, and flanges.
To stop by Sandvik’s website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2021 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
