Valmont exits consumables business

After seven years of ownership, Nebraska, US-based engineered products supplier Valmont Industries confirmed this week that it is selling its Australian mining consumables arm, Donhad, to grinding media maker Moly-Cop
Valmont exits consumables business Valmont exits consumables business Valmont exits consumables business Valmont exits consumables business Valmont exits consumables business

Staff reporter

PRESS RELEASE: No financial details were disclosed.

Valmont first acquired Donhad in May 2010 as part of its Delta takeover; the company said the unit generated revenue totaling US$83.1 million last year within its Energy and Mining business segment.

Investment group American Industrial Partners picked up Moly-Corp in January this year to be a portfolio company.

Now in the definitive agreement stage, the deal is subject to approvals and closing conditions and it projected to close by the end of the year. Valmont said it sale proceeds will be reinvested into its infrastructure and agricultural subsidiaries.