Sandvik has taken full ownership of Rocbolt technologies in China, South Africa and Mongolia, while joint venture partner Jennmar will retain its stake in Rocbolt Australia.
The deals followed Sandvik’s €943 million ($1.5 billion) acquisition of DSI underground in July, which had an equal stake in Rocbolt across the four countries.
Adding DSI and Rocbolt to its ranks allowed Sandvik to offer ground support and strata reinforcement products and systems, such as bolting systems and injection chemicals.
Rocbolt will become part of Sandvik’s ground support division of its Mining and Rock Solutions business.
In July, DSI chief executive Michael Reich said his company saw the deal as a positive prospect for both parties.
“Sandvik’s strategy is to invest in strong businesses with good growth potential. DSI Underground fits very well with Sandvik Mining and Rock Solutions,” he said.
“With our knowledge of ground support technologies, we can add a valuable and complementary offering to Sandvik Mining and Rock Solutions.”
Rocbolt was established as an equal joint venture in February 2016 between Jennmar and DSI Underground, eight years after the original Rocbolt joint venture was established by Jennmar and a North American partner.
Jennmar has been operating in Australia since 1997 and will continue to do so as a JV partner with Sandvik across its three major locations in New South Wales, Queensland and Western Australia.
The purchase price was not disclosed for Sandvik’s new share in Rocbolt across China, South Africa and Mongolia.