Enaex S.A. offered to acquire the remaining 50% stake in Xion I Participações S.A. for $70 million.

Exsa SA is a Peru-based company primarily engaged in the manufacture, distribution and sale of industrial explosives, as well as in the provision of technical assistance and support activities to mining industry. The Company's range of products portfolio includes dynamites, cartridge and bulk emulsions, blasting agents, seismic explosives and ammonium nitrate. The Company's facilities comprise three production plants located in the Peruvian districts of Lurin, Tacna and Trujillo, as well as a network of distribution centers established in Trujillo, Lima, Cuzco, Arequipa, Tacna, Palpa, Cerro de Pasco and Huaraz. In addition, its products are exported to Chile, Bolivia, the Dominican Republic, Panama and Argentina, among others. As of December 31, 2011, the Company owned fully consolidated subsidiary International Blasting Services Inc, and Inversiones Breca SA was its majority shareholder with 71.52% of its interest.