Chemicals and mining explosives company AECI has confirmed to shareholders that the disposal of Schirm USA for $40-million was completed on August 28.
The proceeds from the sale will be used in line with AECI's capital allocation framework.
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AECI in late 2023 announced plans to restructure the company to focus on its core AECI Chemicals and AECI Mining businesses and divest from managed businesses that offer limited synergies with the chosen core businesses.
This strategic shift aims to streamline operations, enhance efficiency and leverage in-house expertise by concentrating efforts on areas where AECI has a competitive advantage and strong market potential, the company states. 
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