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Dyno Buys Stake in Explosives Firm

1:38 PM MDT | January 24, 2007 | DR

Explosives manufacturer Dyno Nobel (Sydney) says it has acquired a 29.9% stake in Fabchem China (Singapore), a commercial explosive device manufacturer, for S$49 million ($32 million). The deal values Fabchem at about S$164 million. It makes Dyno the second-largest shareholder in Fabchem behind Fortsmith Investments (Singapore), owned by Fabchem managing director Sun Bowen. Dyno abandoned plans last year to acquire a majority stake in Fabchem (CW, Oct. 11/18, 2006, p. 7). “The investment by Dyno Nobel, one of the leading explosives companies, shows positive...

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