Incitec Pivot completes acquisition of leading French company Titanobel
Incitec Pivot Limited (IPL) has completed the acquisition of Titanobel, a leading French industrial explosives manufacturer and drilling, blasting and technical services provider.
The completion follows an agreement IPL entered in January to acquire 100% of the shares in Explinvest, a holding company of the Titanobel Group.
IPL Managing Director & CEO Jeanne Johns welcomed the Titanobel Group to IPL.
“We’re delighted to welcome the Titanobel team to IPL and into the network of our explosives business, Dyno Nobel,” Ms Johns said.
“Together, we will be able to build on the strengths and expertise of both businesses which have a great synergy. Both Titanobel and Dyno Nobel can be traced back to the founder of modern explosives, Alfred Nobel, with the Nobel brand carrying huge cachet in the European market.
“The acquisition is an important milestone in the execution of our strategy to extend our brand and world leading technologies into the Europe, Middle East and Africa (EMEA) region. The EMEA market is significant in size and characterised by low ammonium nitrate requirements, stable or growing mineral markets, and large initiating systems usage with low penetration of electronic detonators.
“Through this acquisition, we will have the opportunity to service new clients and partners with our market leading technology,” Ms Johns said.
ENDS
For more information:
Debbie Guest
Group Corporate Affairs Manager
Tel: +61 455 745 639
Email: debbie.guest@incitecpivot.com.au