Sunday 11th Apr, 2021

Downer completes sale of blasting services

Industrial machinery manufacturer Metso has made new appointments to its executive team, including a new President for its Minerals Services business area.

Downer has completed the sale of Downler Blasting Services to Enaex S.A. a subsidiary of Sigdo Koppers Group.

The sale price of the deal represents an enterprise value of $62 million.

Downer Chief Executive Officer Grant Fenn said when the deal was announced that the sale was an important step in its Urban Services Strategy.

“The sale of Downer Blasting Services follows the sale of the Snowden consulting business and also our share in the RTL Mining and Earthworks joint venture,” Fenn said.

“We are in active discussions with a number of interested parties in relation to the rest of the Mining portfolio.”

Downer Blasting Services was one of the largest blasting contractors in Australia’s mining industry, specialising in open cut blasting, underground blasting, maintenance and emulsion manufacturing.

The business owns more than 45 explosives delivery systems, five emulsion-manufacturing facilities and employs 150 workers.

Related stories: