OUTOTEC OYJ PRESS RELEASE AUGUST 13, 2015 at 2.00 PM
Outotec acquires Canadian company Kovit Engineering Limited to complement its tailings management solutions
Outotec has acquired the Canadian based Kovit Engineering Limited from its founders. Kovit Engineering is one of the leading technical consulting and engineering companies specializing in surface and underground mine tailings solutions. Tailings are the materials left over after the process of separating the valuable fractions from the ore. The acquisition complements Outotec's existing dewatering and tailings treatment solutions and services as well as strengthens Outotec's position as a global provider of sustainable tailings management solutions. The parties have agreed not to disclose the acquisition price. The acquisition will not impact Outotec's financial guidance for 2015.
Kovit Engineering's annual sales are some EUR 5-10 million and its approximately 30 specialists in Sudbury, Canada, will transfer to Outotec.
"Effective and safe disposal of mining wastes presents technical and environmental challenges. This acquisition of Kovit Engineering will further strengthen our position as a provider of sustainable and water-efficient tailings management solutions to the mining industry", says Outotec CEO Pertti Korhonen.
For further information please contact:
Kalle Härkki, President - Minerals Processing business area
Tel. +358 20 529 2901
Eila Paatela, Director - Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198