PRESS RELEASE
Date: June 12, 2003
Dyno Nobel Acquires St. Lawrence/Hall Explosives
(Oslo, Norway; Salt Lake City, Utah / Adams Center, New York, USA) Dyno Nobel, on June 11, purchased a majority ownership share in St. Lawrence Explosives, Inc. (SLE) which also includes its wholly owned subsidiary, Hall Explosives, Inc., and its interest in SLE Canada. In addition, the investment extends to the stock, assets, distribution facilities and customer lists in New York, central Pennsylvania and southern Ontario as well as activities in which SLE participates in surrounding New England states. SLE has its primary head-quarters in Adams Center, New York.
Julie Percori will continue as President/General Manager of SLE, a position she has held for the past 12 years. She will utilize her 23 years of experience in the explosives business to combine the talents of SLE local personnel and service capabilities with the quality explosives products and technical support of Dyno Nobel, maximizing SLE penetration in their service area.
“The marriage between our two companies is good for both of us,” Julie commented. “St. Lawrence will now have access to a wider variety of quality explosives products, technical support and the advanced health and safety programs of Dyno Nobel while Dyno Nobel will gain increased access to the New York market and preserve existing business.”
“I’d like to take this opportunity to welcome St. Lawrence and Hall Explosives’ employees to the Dyno Nobel network of affiliated companies,” added Dyno Nobel Senior Vice President for North America, Peter Richards. “This acquisition creates a unique and exciting opportunity for St. Lawrence/Hall to become part of the Dyno Nobel network with access to world-class HSEQ systems, technology, innovative explosives products and process knowledge. The St. Lawrence/Hall-Dyno Nobel combination represents enhanced market access, a strong customer focus and a history of innovative development.”
For further information, please contact Brad Larson (+47 22317801) in Oslo, Norway or Sue Sekerka at Dyno Nobel North America in Salt Lake City, Utah, USA (+1 801 328 6598 / sue.sekerka@am.dynonobel.com).
BACKGROUND
SLE was originally incorporated in 1959 as St. Lawrence Mine & Quarry Supply Corp. in Watertown, New York and has served the explosives market in the northeast U.S. and southeast Canada since that time. They expanded their business base in 1980 with the acquisition of Genesee Explosives Sales (Rochester, New York) and, in 1986, Hall Explosives, Inc. (Harrisburg, Pennsylvania) which continues to operate as a wholly owned subsidiary. In 2000, SLE solidified their position in the Canadian market through the acquisition of an interest in Kesco Canada Inc., subsequently changing the operating name to St. Lawrence Explosives, Inc.
Dyno Nobel ASA is one of the world’s leading commercial explosives companies with approximately 5,000 employees and operations in 35 countries worldwide. The company is active in major markets in Scandinavia, the U.S., Canada and Australia, and is an increasing presence in growing markets including Asia, Africa, Eastern Europe and Latin America. Since 2000, when the former Dyno Industrier was acquired by Industri Kapital, Dyno Nobel ASA has been restructuring and refocusing to fulfill its Vision of being the world’s leading explosives supplier.
Industri Kapital is one of the leading private equity firms in Europe with equity capital under manage-ment in excess of EUR 3 billion from Nordic, European and international institutional investors. Since its formation in 1989, Industri Kapital has, through its four funds, have carried out 46 strategic investments. Industri Kapital currently has a portfolio of 25 companies with a total turnover exceeding EUR 11 billion.
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