Sandvik, following the acquisition of ground support and reinforcement specialist, DSI Underground, has taken the opportunity to acquire the joint venture partners’ share of the Rocbolt Technologies JVs DSI was previously engaged in within China, South Africa and Mongolia.
While the company now holds 100% of Rocbolt Technologies in these regions following the transactions with previous 50% owner, Jennmar, it will continue to be a JV partner with Jennmar in Australia under Rocbolt Technologies Australia. Jennmar and DSI established these joint ventures back in 2016.
Rocbolt Technologies will be reported in the Ground Support Division of business area Sandvik Mining and Rock Solutions, Sandvik said.
Sandvik completed the acquisition of DSI recently after announcing the planned purchase late last year.
In 2020, DSI Underground had revenues of about €516 million ($612 million), excluding the four joint ventures. The three JVs that will now be fully consolidated had revenues of around €80 million in that same year.