Jason Sandefur

Australia-based Orica Ltd has acquired U.S. specialty bolt maker Excel Mining Systems LLC for about $670 million, Reuters reports. Excel makes bolts and accessories to stabilize roofs and walls in underground mines.
Orica chief executive Graeme Liebelt said Excel was complementary to the operations of Orica”s Minova chemicals business produced resins used in conjunction with the Excel bolts, making a suitable match for explosives giant Orica.
The acquisition is expected to close in the fourth quarter of 2007.
Founded in 1991, Excel produces roof support, including rebar bolts, eclipse bolts and friction bolts, for the coal and hard rock mining industries. The company is headquartered at 600 Boyce Dr., Bowerston, OH 44695. Tel: 740 269-8100 Fax 740 269-8011 Web: excelmining.com \ �2007 FastenerNews.com