Burmah Castrol PLC
24 November 1999
BURMAH CASTROL : FURTHER STRATEGIC DEVELOPMENTS
Burmah Castrol plc ('Burmah Castrol'), the international
specialised lubricants and chemicals group, announced today
the further expansion of its Fosroc Mining ('Mining') business
through a series of investments totalling £4.5 million. These
developments support Mining's strategy of growth through
geographic expansion and broader market penetration.
* The acquisition of Ventmine/Tecrete Group of companies,
based in Australia, who are the leading provider of
ventilation structures and services to the Australian
underground coal mining industry
* The acquisition of the mining business of MCC, the
leading supplier of cement capsules to the South African
mining industry serving major gold and platinum
producers such as Anglo American.
* The acquisition of 70 per cent of Polymer Systems
Technology, a resin capsule manufacturing business in
the Kuzbass region of Russia, supplying mines with resin
capsules, cementitious products and strata injection
materials.
Mining is the leading supplier of chemical anchoring systems
to the world's mining and tunnelling industries. Its product
range includes resin capsules, specialist cements and organic
injection grouts for use in group support, water stopping and
ventilation systems in both mining and tunnelling.
These investments will enable Mining to expand its product and
service offering to existing markets while continuing its
global geographic expansion. Opportunities for cost savings
exist in both manufacturing and administration.
Geographically, these developments allow Mining to pursue the
significant growth opportunities offered by the mining and
tunnelling markets worldwide. The Russian investment
illustrates the strategy of establishing a local manufacturing
presence to achieve significant market penetration by the
introduction of a wider product range to that market.
Tim Stevenson, chief executive of Burmah Castrol, comments:
'These developments support Burmah Castrol's objective of
strengthening our businesses with investments which round out
our existing operations. It is consistent with our aim to
build on those businesses that can sustain a leading global
position in their specialised markets, as part of our strategy
to create shareholder value.'
For further information, please contact:
James Alexander, Corporate Affairs director,
Burmah Castrol plc 01793 452006
Sharon Ostaszewska, External Relations,
Burmah Castrol plc 01793 452946
Rachel Hirst/Harriet Keen,
Hogarth Partnership Limited 0171 357 9477
A copy of this release plus further company information is
available on our website: www.burmah-castrol.com
Notes to Editors:
Note 1
Burmah Castrol businesses market specialised lubricant and
chemical products and services on a worldwide basis. The
group has a turnover close to £3 billion and operating profits
of £255 million. It has over 150 subsidiaries operating in
some 55 countries and employs just under 20,000 people.
Burmah Castrol is based around a series of international
businesses, each focused on the specific requirements of its
own market place but sharing common characteristics. Four of
the group's businesses trade under the Castrol brand name and
the remaining businesses operate in speciality chemicals.
Note 2
Following the acquisition of Fosroc, as part of the Foseco
group of companies, the Mining business was formed as a
separate specialist division in early 1997.
Note 3
The Mining product range includes the following:
Resin capsules: a two component chemical 'glue' for anchoring
rock bolts in the roof of mines. The high tech alternative to
cement or mechanical systems, with its main advantage being
the high set speed - c.10 seconds.
Special cements: a Fosroc invention which mixes a number of
components to give powder with very high foaming
characteristics when mixed with water. Used in bags to
support mine roofs, in bulk to fill cavities and to build
ventilation walls.
Organic injection grouts: these are dominantly based on PU and
are injected under high pressure to reinforce broken rock.
Heavily used in Europe and in very difficult conditions
worldwide.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.