Sasol is set to increase its presence in the explosives market after negotiating a deal with explosives giant, Enaex, which will see Enaex consume Sasol’s explosives business operations in the newly formed joint venture.
In a statement last week, the energy supplier said a new company would be formed once the application was approved.
“Once Competition Commission approval is received, Sasol and Enaex will form a new company and Sasol will transfer its explosives business to the new company as a going concern,” Sasol said.
On the partnership, Sasol noted that Enaex was one of the biggest explosives companies in the world, producing products and solutions for the entire blasting process spectrum.
“Enaex brings almost a century’s experience in the global explosives market with their core business being Ammonium Nitrate production, explosives production and blasting services,” it said.
Sasol’s explosives business was identified as having substantial growth potential following a 2017 asset review meeting. – Bjorn Vorster
