Published on August 10th, 2012 | by Anneli Hidalgo0
Outotec acquires TME Group
Outotec CEO Pertti Korhonen
Finnish minerals and metals processing technology company has signed a deal to acquire the business of Australian-owned TME Group.
“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 in a press release.
The parties have agreed to not disclose the acquisition price. The completion of the transaction is expected to be fulfilled by the end of the month. TME is a mining service company with annual sales of EUR 35 million and provides services mainly in Australia, Africa and South East Asia.