PRESS RELEASE: Employing 300 people, DSI Underground Australia supplies strata reinforcement and ground support products essential to safety and efficiency in the underground mining, infrastructure and construction sectors.
The Fero Group, which it plans on acquiring, currently has manufacturing operations in Kewdale, Western Australia, and Narangba, Queensland.
CEO of DSI Underground Australia, Derek Hird, said: "The acquisition of Fero will add galvanising and mesh manufacturing processes into DSI Underground Australia's manufacturing capability, allowing us to better serve customers, continue to invest in R&D, and increase exports to African and Asian mining services markets."
The owners of Fero, the Franco family of Perth, have also agreed to invest part of the sale proceeds into DSI Underground Australia's parent company, DSI Underground Holdings, and will become a significant shareholder in DSI Underground's global mining business.
Michael Reich, group CEO of DSI Underground International, said the aim was to provide customers with a broader range of products, allow for continued R&D investment, and adapt to the digitalisation of products and services.