DSI Underground Australia announces completion of the Fero Group acquisition

Newcastle, Australia - DSI Underground Australia is pleased to announce today the completion of the Fero Group (Fero) acquisition. DSI Underground Australia manufactures and supplies high quality Australian-made strata reinforcement and ground support products essential to safety and efficiency in the underground mining, infrastructure and construction sectors. As announced previously the acquisition of Fero will add galvanizing services and mesh manufacturing processes into DSI Underground Australia’s manufacturing capability, allowing us to better serve customers across Australia and the globe. Fero manufacturing operations in Perth and Brisbane will partner with DSI operations in Perth and Newcastle to provide a comprehensive manufacturing network to our markets which will allow increased capability to fulfil our customer’s expectations. The acquisition will also allow DSI to invest further in innovation and developments to continue to drive efficiency and safety across the mining industry. Fero Strata Systems mining business and products will ultimately be consolidated under the DSI Underground brand. This represents a further strategic step towards the vertical integration of all business activities of DSI Underground and strengthening its market presence. For our customers and business partners, DSI Undergrounds well-proven business approach will remain the same, with a strong focus on continuously improving our service and product offerings. As well as the Fero ground support business providing DSI an enhanced offering to the underground sector, DSI is excited about the opportunities Fero’s galvanizing, paint and blast, and reinforcing business provide and are committed to growing this side of the businesses. DSI will continue to operate the Fero non-mining related businesses Fero Galvanising, Fero Blast and Fero Reinforcing and these businesses will continue to operate under the Fero brand. Regional Chief Executive Officer, Derek Hird, states: “The addition of Fero’s galvanizing services and mesh manufacturing processes considerably strengthens our market presence in Australia and the globe. Through the enhanced manufacturing capabilities and extended ground support product range, the goal is to provide our customers with a superior service, meeting their expectations at home and abroad. We are delighted to welcome all FERO employees to DSI Underground and look forward to a long-term, dedicated and successful relationship.” Michael Reich, Group CEO of DSI Underground International states; “I would like to thank the Franco family for their ongoing support and commitment to the DSI underground business”