Outotec completes the acquisition of TME Group in Australia
Outotec has successfully completed the acquisition of Australian-owned TME Group. TME is a mining services company with offices throughout Australia and in South Africa. The parties do not disclose the acquisition price. The transaction was announced on July 10, 2012.
TME provides grinding mill relining and mineral processing plant maintenance services to customers mainly in Australia, Africa and South East Asia. With annual sales of approximately EUR 35 million, TME has 130 permanent employees and a large casual labor workforce. With the acquisition Outotec aims to accelerate its service business growth.
"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 our customers in the mining and metals industries in the South East Asia Pacific region, Africa and beyond", says Pertti Korhonen, CEO of Outotec.