Minerals and metals processing technology company Outotec has signed a deal 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.
With annual sales of about 35 million euros, TME has 130 permanent employees and a large casual labour workforce.
TME provides grinding mill relining and mineral processing plant maintenance services to customers - mainly in Australia, Africa and South East Asia.
— Our target is to grow our global annual services sales to 500 million euros by 2015, says Pertti Korhonen, CEO of Outotec.
— 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.
Outotec acquires TME Group