Besides making explosives, Titanobel also provides drilling, blasting and technical services in France, across Europe and in parts of western and southern Africa, Asia and the Pacific region.

It has a strong customer base in the mature and stable European market with exposure to the quarry and construction sector, the growing African hard rock sector and the rapidly expanding mining of future facing minerals in the Europe, Middle East and Africa region.

Incitec Pivot believes the deal will give it access to markets where Dyno Nobel will be able to leverage its technology offering through substitution and growth strategies.

Following the acquisition Incitec Pivot plans to leverage Titanobel's existing manufacturing footprint, the skills and technical experience of Titanobel's workers and to enhance Titanobel's offering with Dyno Nobel's technologies.

According to Incitec Pivot, the EMEA market is significant in size, characterised by low ammonium nitrate requirements, a stable or growing minerals market and large initiating systems usage with low penetration of electronic detonators.

Incitec Pivot managing director and CEO Jeanne Johns said the Titanobel acquisition would fit well with Incitec Pivot's plan to take its core explosives business to new markets.

"We are excited for the potential to service new clients and partners with our market leading technology," she said.

"The ability to build on Titanobel's rich history, market position and regional presence is an exciting chapter in our growth journey, and we look forward to welcoming the Titanobel team to Incitec Pivot.

"This acquisition further demonstrates the opportunities we have to grow our two high quality businesses and position them for the future."

Titanobel traces its history back to 1691 and has been a key player in France's explosives industry since then.

With two main business units of explosives and drilling and blasting services, Titanobel has a diversified customer base and a presence in more than 30 countries.