DYWIDAG-Systems International announces organizational and leadership changes
- Successful repositioning of DSI Group into two Divisions
- Former Group CEO Patrik Nolåker focuses on non-executive role on DSI Board
- Group CFO Nick Moses takes over as acting CEO of DSI Construction
- Chairman of Board thanks Mr. Patrik Nolåker for his contributions
Luxembourg, September 7th 2016 - The Board of DYWIDAG Systems International Sarl (DSI) has announced changes within the organizational structure and leadership team at DSI today. Patrik Nolåker, who was Group CEO until the initiation of the reorganization of DSI into two separate divisions in March and is currently CEO of DSI Construction, will leave his role by mutual consent with effect as of September 30th. He will remain a member of the DSI Board. Until the appointment of a successor, Nick Moses, Group CFO, will act as CEO of DSI Construction, in addition to his current responsibilities.
“These leadership changes are a direct result of the Group’s reorganization into two separate divisions, DSI Construction and DSI Underground, run by independent operational management teams. This organizational change reflects the successful development of our businesses through profitable growth and accretive acquisitions and will further enhance their operational and strategic focus going forward. On behalf of the Board and Shareholders of DSI, I would like to thank Patrik for leading DSI since shortly after Triton acquired the business in 2011 and for driving the current reorganization to a successful conclusion. We look forward to continuing to work with Patrik in his ongoing responsibility as a DSI Board member” said Matthew Turner, Chairman of the DSI Board.
DSI’s proposed acquisition of Jennmar Australia
In February 2016, DSI announced that it had signed agreements to acquire Jennmar’s businesses outside the US, and to sell its US Mining business to Jennmar. The acquisitions in Latin America, Europe and China (50%), and the sale of the US Mining business, were completed in the first quarter of this year.
As noted in the February announcement, the completion of the acquisition of Jennmar Australia was conditional on approval from the Australian anti-trust authority, the ACCC. We have now decided to withdraw our application to the ACCC and have agreed with Jennmar to terminate the proposed transaction.
Michael Reich, DSI Underground CEO, commented: “In the process of this review, we have registered the concerns from the marketplace about certain aspects of the proposed transaction. While we believe these could potentially be addressed, we are also conscious of our responsibility to avoid a prolonged period of uncertainty. We therefore believe it is in the interests of all parties not to proceed with the proposed transaction.
DSI Australia of course is and remains a strong and successful business in the Australian ground support market. We are pleased with the progress made with the other acquisitions we have recently made and we will build on these foundations into the future. And we will continue to provide innovative ground support solutions and exemplary service to all our customers in Australia and around the world.”
DSI Underground signs an exclusive distribution agreement with NMP of Sweden for dynamic inflatable rock bolts
July 2016, DSI Underground signed an agreement to manufacture and sell patented Dynamic OMEGA-BOLT® with Northern Mining Products (NMP) of Luleå, Sweden. In their quest for higher grade ore, underground mines around the world are going deeper and deeper, where rock mass is often highly stressed by the weight of overlaying strata and by tectonic forces. During the process of developing large excavations, dangerous phenomena such as micro-seismicity and rock-bursts may occur, with violent explosion-like ejection of rock fragments. In order to mitigate the risks of such events, dynamic rock support systems have been developed, and among them, NMP has patented a highly innovative dynamic rock bolt.
Dynamic OMEGA-BOLT® is a mining and tunneling reinforcement system based on DSI Underground’s well-known expandable “OMEGA” friction bolt equipped with an internal additional steel element having a “C” profile. While the external omega profile is in contact with surrounding rock along its entire length, the internal element is welded only to the rock-bolt’s two ends. Being fully “de-bonded”, the internal “C” element is able to elongate and absorb a great amount of elastic energy released by the rock mass.
Dynamic OMEGA-BOLT® does not require any bonding material such as resin or cement grout, offers immediate support for extra safety and high productivity, especially in case of fully mechanized bolt installation.
Anders Dalstål, CEO of NMP, comments:”With its professional technical and sales team, DSI Underground is the perfect partner for NMP. We are confident that DSI will fully utilize the technical and commercial potential available in our patent and will support the continuous development of the Dynamic OMEGA-BOLT®. DSI’s global presence will make Dynamic OMEGA-BOLT® well known in all mines where micro-seismicity and rock-bursts may cause injuries to miners, from Scandinavia to North and South America, Australia and South Africa”.
Michael Reich, Group CEO of DSI Underground, comments: “After the recent acquisition of the “OneStep” rock-bolt, Dynamic OMEGA-BOLT® represents another important addition to our product portfolio of highly specialized bolt technology. Dynamic OMEGA-BOLT® offers a unique value proposition and has the potential to significantly increase productivity with several customers. This acquisition and the ongoing joint efforts with our partners at Northern Mining Products confirm DSI Underground’s continuous interest in technically advanced solutions to make Underground Mining safer and more efficient.”
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