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:: Bradken Acquires Norcast Wear Solutions and Australian & Overseas Alloys
Bradken Limited has announced two acquisitions for a total consideration of A$222 million. Commenting on the acquisitions, Managing Director Brian Hodges said, "The acquisitions are in line with Bradken's strategy of globalizing its consumable products businesses and building a substantial presence in the world's major mining regions.
Norcast, whose head office is in Toronto, Canada, and its main production facility based in Mont Joli, Canada, is a manufacturer of cast steel Mill Liners for the global mining market. In combination with Bradken's Mineral Processing Business, Bradken will now become the largest global supplier of these mining consumables with sales into all major mining regions including Australasia, North & South America and Africa. The acquisition significantly increases Bradken's market share in North & South America and Africa for these products.
Norcast's Canadian operations and the North and South American markets will be managed by Bradken's US Resources Business, a part of the Engineered Products Division.
The acquisition includes Swanmet, a Malaysian foundry group acquired by Norcast in March 2010. Swanmet currently manufactures and sells wear parts into mining and energy markets including Australia. Swanmet offers significant low cost capacity for the manufacture of mining consumables including Crusher Liners and Ground Engaging Tools (GET). Swanmet operations and the Asian and African markets will be managed by Bradken's Australian Mineral Processing Business, a part of the Mining Products Division.
Bradken has also acquired Australian and Overseas Alloys Pty Limited based in Wollongong, New South Wales for a total purchase price of A$20 million. AOA produces a range of wear plate products for the mining industry. The AOA business has particularly strong manufacturing technology, producing high quality, low cost wear plate products. This acquisition complements Bradken's current Fixed Plant wear products business, providing a strong presence on the east coast of Australia.
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