On July, 20, Frank Calandra Inc. (FCI) provided an update to its five separate agreements with Dywidag Systems International (DSI) originally communicated on February 2. The acquisition of DSI’s U.S. Mining Division by Jennmar has been fully consummated.
As far as divestitures, which included Jennmar Australia, Jennmar Europe and Jennmar Latin America, DSI has elected to withdraw its proposal to the Australian Competition and Consumer Commission (ACCC) and both parties have decided to terminate the proposed transaction. Jennmar said it has no plans for divesting its very successful Australian operations and the company thanked its customers and employees for standing by them during these months of uncertainty. Jennmar will continue to deliver ground support options that are both commercially economical and safe to the Australian mining and tunneling industries.
The divesture of Jennmar’s European operations, which includes Jennmar Spain, Jennmar MultiTex in the Czech Republic, Jennmar Merol in Poland, is now complete. Likewise, the divesture of Jennmar’s Latin America operations (Jennmar Chile, Jennmar Peru, Jennmar Mexico) is now complete.
With regards to the RocBolt joint ventures, FCI and DSI continue to operate RocBolt Technologies Jining Ltd. (China), RocBolt Technologies Ltd. (South Africa) and RocBolt Resins Ltd. (Australia) as successful, stand-alone joint ventures.