Strata Mine Services, a division of Strata Products Worldwide, has completed an asset acquisition agreement with Precision Mine Repair (PMR) of Ridgway, Illinois.
Established in 1995, PMR has become a market leader in underground ventilation control structures and mining construction services. Included in the acquisition is an EVG 3D EPS panel machine, which is used to fabricate the 3-D panels of the patented PMR ventilation seals and overcasts.
Leveraging the solid market reputation PMR has acquired over the years, Strata plans to expand its market share in the United States West and Midwest by combining PMR’s current footprint with Strata’s range of product offerings and services.
Additionally, Strata intends to establish a distribution network in the construction industry, using the 3-D EVG panels for the construction of houses and commercial buildings.
"This acquisition further increases our penetration and market share in the mining industry and also supports Strata’s plan for growth and diversity into adjacent industrial markets," said Mike Berube, president and chief executive officer, Strata Worldwide.
"PMR created a differentiated technology for ventilation control that has set them apart from other suppliers. Obtaining these assets and capabilities enables Strata to offer an even broader portfolio of products and services to its domestic customer base."
Berube added that the market knowledge and product expertise that resides with PMR’s resources will be a welcomed addition to the Strata team. It will enable Strata to continue to support PMR’s existing customer base after the ownership transition.