Minova Australia has bought previous joint venture partner, CarboTech Australia while Minova International has acquired the mining and tunnelling interests of CarboTech Berg und Tunnelbausysteme, including their 50% share in the CarboTech Fosroc joint venture and a 50% share in Heitech Inc, USA.

Minova Australia chief executive Garry Ashford, who will head up the expanded Australian operation, said this was a major step in Minova’s strategic expansion plans.

“With the CarboTech brand, we are gaining the intellectual property rights to industry respected technology. This acquisition brings clarity to the market and enables Minova to fully exploit CarboTech technology throughout Australia,” he said.

The ability to transfer the CarboTech technology worldwide is seen as a significant benefit of the acquisition. Technology transfer is one of Minova's major platforms, with the capability to develop products specific to the requirements of one territory and then modify and adapt them for the conditions unique to other territories.

The full deal will be completed, subject to final regulatory approval, by the purchase of a 100% shareholding in Carbo Zakk in Russia and a 25% share in Carbo & Krep in the Ukraine.