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Exhibit 21.1


SUBSIDIARIES OF THE COMPANY

Name of subsidiary

  Location
Nobelclad Europe S.A.   Rivesaltes, France
Nitro Metall Aktiebolag   Likenas, Sweden
DYNAenergetics Holding GmbH   Burbach, Germany
Dynamic Materials Luxembourg S.ar.l 1   Luxembourg, Luxembourg
Dynamic Materials Luxembourg S.ar.1 2   Luxembourg, Luxembourg



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SUBSIDIARIES OF THE COMPANY