Outotec accelerates its service business growth by acquiring Demil Manutenção Industrial Ltda in Brazil
Outotec has agreed to acquire all shares in Demil Manutenção Industrial Ltda in Brazil from Marcos Del Pupo and his children. Demil provides industrial maintenance services for iron ore pelletizing plants and is located in Guarapari, Espírito Santo in Brazil. 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 May 2012.
Demil has approximately 300 employees and its annual sales are at the level of EUR 10 million. The acquisition will provide a platform for further developing Outotec's service business and capabilities in Brazil. Demil's services can be offered to Outotec's Brazilian customers, pelletizing technology users in particular. Outotec expects to double the annual sales of the Demil business in two to three years.
"We intend to further develop various service capabilities, such as Operation and Maintenance services, related to our proprietary technologies. The Demil acquisition will make us an even stronger provider of sustainable life cycle solutions to our customers in Brazil", says Outotec CEO Pertti Korhonen.
