Minova International has continued its strategic expansion in bolt production with the purchase of French manufacturer Cocentall’s assets and sales, a move that came soon after it bought out the remaining shares of Czech friction bolt producer Geobolt.
Last month, the Swiss unit of the company’s Minova CarboTech division bought the production and sales activities of Cocentall, which included SN bolts, expanding bolts and plates. Terms of the deal were not disclosed.
The firm’s German investment unit Minova Holding recently bought the remaining 49% of Geobolt shares held by Czech company Ankra spol. The move is a strategic operational purchase for the group’s Germany-based unit Minova CarboTech. Minova plans to expand production of Geobolt’s Boltext friction bolts for eastern Europe, Russia and Asia.
Over the last few years, Minova has been involved in much acquisition activity. In 2005, it bought the mining business of UK firm Exchem, which focuses on roofbolting resin capsules and drilling machines. Minova was itself bought last year by Australia-based Orica from venture capital firm Close Brothers Private Equity, which created Minova with assets from BP.
