Genova, Italy-based Tenova Group, a plantmaker wholly owned by Italian-Argentine holding Techint, has officially acquired Johannesburg, South Arica-based Bateman Engineering for about $150 million. Bateman Engineering is specialized in the supply of hi-tech equipment for the mining sector.
Tenova operates in two different business sectors: it was established as a plantmaker focused on the steel industry, but in recent years it has widened its activity to include the mining sector, continuing to work as a plant constructor. Due to the new acquisition, Tenova's mining branch will be able to continue its progress, doubling its annual sales revenues to around €800 million.