- Establishment of a Joint Venture with Jennmar (JM) in Jining
In February 2016, DSI signed an agreement for acquiring 50% of the shares of JM Jining. After the Chinese authorities had approved this acquisition, the transaction was closed in mid-April 2016.
DSI and Jennmar now each hold 50 % of the shares of the company in Jining.
JM Jining is a producer of ground support products. The company has a proud history of supplying local mines, operates out of two production halls in Jining and currently has more than 100 employees. Whilst the company will continue to develop its local presence, it will also develop an in-house manufacturing basis for DSI’s international customer basis.
Under the guidance of DSI Underground, JM Jining will step by step continue to expand its offer of ground support systems for the benefit of DSI’s global customer basis. JM Jining has adapted the highest quality standards. Testing and lab facilities in Jining help guarantee the high quality of the ground support systems produced by JM Jining.
Together with DSI Underground’s Group CEO Michael Reich, DSI Underground’s COO Mark Brandon and Edward Wang from DSI’s purchasing office in Shanghai, DSI’s RCEOs Underground Europe & CIS and APAC, Martin Rier and Derek Hird, recently visited JM Jining for a strategy workshop. In discussions with the local management team around Dr. Yajie Wang, the meeting agreed a R&D plan and the next steps of the plant expansion.
Michael Reich – CEO of DSI Underground – states: “The formation of this Joint Venture is a mile stone for our company. In a highly competitive environment, this joint venture will enable DSI to further improve its cost leadership position in the production of high quality ground support products for its customers in the global underground mining and tunneling markets. I am very pleased to welcome JM Jining’s strong team to DSI Underground.”