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GeoResources - Mining, Tunnelling, Geotechnics, Energy - News, Events and Journal

17.11.2021 (408 Clicks)

Solmax acquires Propex to further expand into unique and value-added geosynthetic Products and Solutions


Solmax is pleased to announce that it has agreed to acquire Propex, an industry-leading U.S. geosynthetics manufacturer with a long track record in the construction, transportation, mining, and automotive industries. With this transaction, Solmax reinforces its position as a leading geosynthetics solutions provider.

Jean-Louis Vangeluwe, President of Solmax, commented: “This strategic acquisition enables Solmax to expand its sophisticated geosynthetics product portfolio for the benefit of engineers, distributors, contractors, operators, and others working in the environmental containment and civil infrastructure sectors. As a global leader in the industry, Solmax is accelerating the promotion and awareness of highly technical and specialized geosynthetic solutions, reducing the carbon footprint of conventional building solutions, and mitigating the environmental impact of human activities.”

With origins that can be traced back to 1910, Propex is today one of North America’s leading geosynthetics providers. An award-winning manufacturer and low-carbon solutions provider, it boasts a storied history and an enviable reputation for innovation, expertise, service excellence and value.

Solmax’s geosynthetic solutions are used by major industrial companies in mining, energy, waste management, construction, civil engineering, environmental containment, infrastructure, and transport, while Propex’s infrastructure solutions and systems are used in erosion control applications, construction, transportation infrastructure, and industrial applications.

As industry leaders with a longstanding market presence, Solmax and Propex are both renowned for their geosynthetics expertise, application knowledge, product excellence, and customer service, as well as being recognized as groundbreakers in their respective spaces. Both companies’ share a well-aligned vision of protecting the environment in a responsible manner to make the future a better world.

K&L Gates LLP and Jones Day acted as legal advisors to Solmax. Barclays and TD Securities are acting as joint financial advisors, underwriters, joint bookrunners and joint lead arrangers for the Solmax senior credit facilities. Solomon Partners acted as exclusive financial advisor and Stroock acted as legal advisor to Propex.

About Solmax

Solmax is a geosynthetics pioneer, innovator, and leader. With almost five decades’ experience, our GSE and TenCate Geosynthetics acquisitions make us one of the world’s largest geosynthetics manufacturer. With plants in North America, Europe, Asia, and the Middle East, our geosynthetics are used in critical applications by significant

Source: Solmax



Solmax, Propex, Acquisition, geosynthetics, mining, geotechnics, transportation, USA, Canada, Vangeluwe, environment, impact, carbon, footprint, waste management, construction, infrastructure, erosion, GSE, TenCate

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16.11.2021 (336 Clicks)

Bauer Technologies Ltd accredited with BES 6001 Sustainability Certificate

Bauer Technologies Ltd, the UK subsidiary of Bauer Spezialtiefbau GmbH, is now a leader in the field of sustainable resourcing and has been accredited with the sustainability certificate BES 6001.

 

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16.11.2021 (404 Clicks)

Fugro expands Remote Operations Capability in India

Fugro has announced the opening of a new state-of-the-art Remote Operations Centre (ROC) in India. Fugro currently operates a core global network of eight major Remote Operations Centres ensuring full system redundancy in all parts of the world.

 

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16.11.2021 (349 Clicks)

Swift Turkish TBM breaks through – Robbins Crossover XRE is World’s fastest TBM over 13 Meters in Diameter

In October 2021, the breakthrough of a Robbins Crossover XRE TBM was the cause of much celebration. A team of personnel from Kolin Construction, Turkish State Railways (TCDD), and Robbins field service gathered to watch the breakthrough of the world’s fastest TBM over 13 m (43 ft) in diameter.

 

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15.11.2021 (371 Clicks)

Honours at national Women in Resources Awards in Australia

A Queenslander has taken out the top honours at prestigious BHP 2021 Women in Resources National Awards, presented by the Minerals Council of Australia (MCA). Maryann Wipaki, General Manager of Health, Safety, Environment, Community at Glencore Queensland Metals in North Queensland has been awarded the 2021 Dyno Nobel Exceptional Woman in Australian Resources Award.

 

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15.11.2021 (372 Clicks)

Sandvik announces first three Members of the Board of SMT – the new Company planned to be listed in 2022

As previously communicated, the Sandvik Board intends to formally propose the distribution and listing of its business area Sandvik Materials Technology (SMT) at a shareholders' meeting next year, with the target to complete the listing in the second or third quarter of 2022, subject to shareholder approval. The listing is planned to be made at the Nasdaq Stockholm Exchange.

 

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12.11.2021 (2044 Clicks)

SMT Scharf continues successful Business Performance in Q3 2021

  • Consolidated revenue rises to EUR 53.9 million in the first nine months of 2021
  • Operating profit (EBIT) improves to EUR 8.1 million
  • Managing Board further upgrades FY 2021 guidance: Consolidated revenue expected in the range of EUR 75 million to EUR 80 million and EBIT in the range of EUR 9 million to EUR 11 million
  • China III approval leads to positive subsequent revenue recognition effects and improved growth prospects in China
 

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12.11.2021 (348 Clicks)

Sydney Metro: Construction on Track with new Milestone

Track laying on the first rail crossing under Sydney Harbour is complete, marking a major milestone on the Sydney Metro City & Southwest project.

 

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11.11.2021 (358 Clicks)

Sika to acquire MBCC Group to accelarate its Growth Strategy and reinforce it Position as Sustainability Champion in the global Construction Industry

  • MBCC Group is one of the most recognized companies in construction chemicals worldwide with sales of approximately CHF 2.9 billion (EUR 2.7 billion)
  • Enterprise value of CHF 5.5 billion represents a 11.5x EV/pro forma 2022E EBITDA multiple with expected annual synergies of CHF 160 – 180 million bringing the multiple down to 8.5x EV/EBITDA
  • Transaction is highly complementary across almost all of Sika’s core technologies, applications, and solutions
  • Acquisition is accretive to Sika’s earnings per share from the first full year post closing
  • The combined company will drive the sustainability transformation of the construction industry further and faster
  • Transaction is subject to regulatory approval, but Sika is confident that all required clearances will be obtained. Closing targeted for the second half of 2022
 

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11.11.2021 (307 Clicks)

Webuild signs Construction Contract in North East Link Project In Melbourne, Australia

Webuild expands presence in Australia and PPP projects as new orders reach €10.6 BLN globally in 2021

 

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