“DSI Chile“: A new name and an expanded market presence
We are delighted to announce the re-launch of DSI’s business in Chile. DSI has had great success in Chile for many years, with the largest range of systems and products for the Tunneling and Mining markets in the country. Following a strategic realignment, the existing Tunneling and Mining business will be transformed by the addition of a comprehensive product range for the production and supply of high quality Post-Tensioning and Geotechnical Systems for the Construction sector.
To recognize this change, DSI-Soprofint Ltda. has been renamed DSI Chile Industrial Ltda, with re-branding under the DSI Chile name. Our new name emphasizes the Group’s philosophy to bring the benefits of the worldwide DSI Group to local markets – “Global Presence, Local Competence”.
For existing customers and business partners, DSI’s well-proven business approach will remain the same, with a strong focus on continuously improving our service and product offerings. In addition, we are now better able to leverage the capabilities of the worldwide DSI Group through the provision of a world class product and service offering to both the Underground and Construction markets.
We are also delighted to announce the opening of our new offices in the centre of Santiago, putting us much closer to many of our most important customers and business partners. Production will remain at our plant in Quilicura.
The management of DSI Chile and all of our employees remain dedicated to supporting all of our customers with the provision of top quality products and systems that they can completely rely on. And we are confident that the changes announced above will only further improve the experience of all our customers.
Santiago, June 2010
Please find following our new addresses:
DSI Chile Industrial Limitada
Headquarters
Av. Isidora Goyenechea 3477; Piso 7
Las Condes, Santiago
Chile
DSI Chile Industrial Limitada
Production plant
Av. Cerro Santa Lucia N° 9771-A / 9801
Quilicura, Santiago
Chile
DSI successfully completes refinancing negotiations
Aschheim, 9 April 2010. DYWIDAG-Systems International (DSI) today announced that it has reached an agreement following refinancing negotiations with its principal shareholder CVC Capital Partners and principal lenders Barclays Capital and Bank of America Merrill Lynch.
The refinancing involves a debt for equity conversion, significantly reducing balance sheet gearing. As a result, Barclays Capital and Bank of America Merrill Lynch become the largest shareholders in DSI, while funds advised by CVC remain significant shareholders and continue to be represented on the board.
DSI management have been closely involved in the process and are fully supportive of the outcome. Since there are no changes in the executive management of the company or its strategy, continuity for customers, suppliers and employees is assured.
“DSI like many companies in the construction and mining industries has experienced a double-digit decline in sales in the last 12 months but has always remained operationally profitable and cash positive. We are therefore delighted at the support we have received in the restructuring agreement. This is clear recognition of the strength of the DSI business and we feel we will be in a great position to take full advantage of market opportunities in 2010 and beyond.” said Alan Bate, Chairman of DSI.
“We are pleased that we found a consensual solution with all parties involved. We have confidence in the future of DSI. The new capital structure will allow all parties to benefit from a future upswing in the business”, said Steve Koltes, Managing Partner of CVC Capital Partners.
“We are very pleased to have concluded these negotiations. We share CVC’s confidence in DSI and are anxious to support management’s plans to develop the business going forward” said a spokesperson for Barclays Capital and Bank of America Merrill Lynch.
Media contact:
Markus Talanow
Hering Schuppener
Phone: +49 69 92 18 74 70
Mobile:+49 171 86 79 940
mtalanow@heringschuppener.com
About DSI:
DSI, headquartered in Aschheim near Munich (Germany), is the global market leader in the area of post-tensioning, geotechnical and strata control systems for applications in the civil engineering, construction and mining industries. The company’s products are mainly used to strengthen concrete, stabilize slopes and support tunnels and underground mines. In addition, DSI is the leader in the concrete accessories markets in France and a major player in Germany as well as the market leader for tunneling accessories in Europe and the US.
DSI acquires 100% of its Brazilian subsidiary, PROTENDIDOS DYWIDAG Ltda.
DSI is pleased to announce that it has acquired the remaining 38% shareholding that it did not previously own in its construction business in Brazil, PROTENDIDOS DYWIDAG.
Headquartered in Sao Paulo, PROTENDIDOS was founded in 1971 and is one of the leading suppliers of Geotechnical and Bar Post-Tensioning Systems in Brazil.
Alan Bate, Chairman and CEO of the DSI Group, commented:
“We have had a very successful partnership with the Helle family, the co-founders of the company, for many years and I would like to pay tribute to the family for their firm support over the years.
In 2008, DSI established a separate division to provide specific focus on South America, and this acquisition emphasizes our commitment to the region and the confidence we have in all our businesses there - in Chile, Peru, as well as in Brazil.
We are therefore delighted to make this announcement, as it represents a significant strategic investment for DSI. South America is a key growth market for us, and this step enables DSI to take full advantage of the market opportunities available in Brazil and to improve the range of products we are able to offer our customers. We have a great management team in PROTENDIDOS and they have our full support as they take the business forward.”