HEAVY ENGINEERING
Cast masters
Paul Moore reviews some major developments in the companies focussed on the supply of steel plate, castings, wear parts and grinding media to the mining industry
There have been some notable mergers and acquisitions among the key companies involved in supplying the mining industry with high strength steel plate, castings and forgings, wear parts and grinding media. KordaMentha announced in November 2016 that it had executed an agreement with funds advised by American Industrial Partners for the sale of the entities comprising the Arrium Mining Consumables Division( Moly-Cop), the global leader in supplying grinding media. Under the terms of the Share Sale Agreement the total enterprise value was $ 1.23 billion. The announcement followed a competitive dual track divestment process conducted by Deutsche Bank over a five month period which simultaneously considered an Initial Public Offering of Moly-Cop on the Australian Securities Exchange and a broad trade sale process.
John Barbagallo, CEO of Moly-Cop said:“ The sale of Moly-Cop brings certainty and confidence for our customers, suppliers and employees. The Moly-Cop team looks forward to working with American Industrial Partners to grow the business and achieve our long-term strategic goal of being the leading supplier of consumable products to the mineral processing industry.”
Richard Hoffman, Partner with American Industrial Partners, said:“ Moly-Cop is a world class company and the innovator in its industry. We are strong advocates of the operating strategies that have been implemented by Moly- Cop management and we intend to continue to invest in the business and its growth, further building upon Moly-Cop’ s leadership position in its industry.”
Elsewhere, Hitachi Construction Machinery Co Ltd has in the past year bought both Bradken, the global supplier of an extensive range of wear resistant products for all types of mobile and fixed plant equipment including GET, buckets, fixed plant solutions and crawler systems; and H-E Parts International, a global
This FerryNod ® 320 SAG mill gear, with an outside diameter of over 13,000 mm, was manufactured by FERRY-CAPITAIN on its VBCM16 machine and is running on the African continent
leader in the manufacturing, servicing and marketing of parts and components for mining, crushing and heavy construction equipment, with global subsidiaries located in Australia, Canada, China, Chile, Malaysia, Peru and the United States.
“ The acquisition of H-E Parts International by
Hitachi CM recently completed its acquisition of Bradken, whose business includes crawler systems
54 International Mining | JUNE 2017