OUTOTEC OYJ PRESS RELEASE July 10, 2012 at 9.30 AM
Outotec to accelerate its service business growth by acquiring TME Group
Outotec has signed an agreement to acquire the business of Australian-owned TME Group. TME is a mining services company, headquartered in Western Australia, with offices throughout Australia and in South Africa. The parties have agreed not to disclose the acquisition price. The completion of the transaction is subject to certain conditions expected to be fulfilled by the end of August 2012. The acquisition does not affect Outotec's financial guidance for 2012.
With annual sales of approximately EUR 35 million, TME has 130 permanent employees and a large casual labor workforce. TME provides grinding mill relining and mineral processing plant maintenance services to customers - mainly in Australia, Africa and South East Asia. TME boasts an international reputation for a safe and cost-effective approach to relining grinding mills.
"Our target is to grow our global annual services sales to EUR 500 million by 2015. This acquisition will expand our offerings and strengthen our capabilities to provide Operation and Maintenance services to the mining and metals industries in the South East Asia Pacific region, Africa and beyond", says Pertti Korhonen, CEO of Outotec.
For further information please contact:
Kalle Härkki, President - Services business area
Tel. +358 20 529 2901
Eila Paatela, Director - Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198