Maxam Explosives
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Maxam Explosives is one of the largest explosives manufacturers in the world, with its headquarters in Madrid.[1][2] In Germany, the plants of the former WASAG belongs to Maxam.
The company traces its roots back to the Sociedad Española de la Pólvora Dinamita, founded by Alfred Nobel, which changed its name to Unión Española de Explosivos (UEE) in 1896. In 1970, UEE merged with Río Tinto, creating Unión Explosivos Río Tinto (ERT). ERT is privatised in 1994 and renames itself Maxam in 2006.[3]
The company is 45% owned by Advent International and 55% by management.[3]
Controversies
[edit]Maxam continues its operations in Russia despite international calls for companies to exit the Russian market following the invasion of Ukraine. The company maintains two production facilities in Russia, employing approximately 250 staff as of 2021, and contributing around $1 million in taxes to the Russian government.[4]
References
[edit]- ^ "MAXAMCORP INTERNATIONAL SL". Dun & Bradstreet. Retrieved 21 January 2022.
- ^ "About Maxam - Our Company". Retrieved 21 January 2022.
- ^ a b "Advent International and Rhône reach agreement for Rhône to acquire Advent's stake in MAXAM". MAXAM. Retrieved 21 January 2022.
- ^ "Maxam". leave-russia.org. Retrieved 2024-12-13.