The move comes less than 18 months after the Dellner Group acquired a 50% equity in Pintsch Bubenzer, in January 2018. The former company now owns a 100% equity in the latter.

Dellner officials said Dellner Brakes, Pintsch Bubenzer and Rima will all continue to operate under their own brands, which aids all in retaining their respective strength in their already existing market areas.

With a staff of 480, the Dellner Bubenzer Group will also retain their market presence with their facilities in Sweden, Germany, Belgium, Italy, the US, Dubai, India, Malaysia, Singapore and China.

"With a shared focus on innovation, technological leadership, high-quality products and customer service, we are well placed to realise the many industrial benefits that this new structure brings us," Pintsch Bubenzer CEO Markus Topp said.

"We'll be looking to capitalise on our considerable strength across expanding market sectors and to bring our products to new markets," added Marcus Aberg, who serves as CEO of Dellner Brakes and is owner representative for the new Dellner Bubenzer Group.

In addition to mining, the companies' braking products are used in material handling, marine, offshore, industrial, oil, gas and wind energy.