Finland-based steelmaker Outotec has announced that it has signed an agreement to acquire Australia-based mining services company TME Group. 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. The acquisition does not affect Outotec's financial guidance for 2012.
According to Outotec's statement, this acquisition will strengthen its capabilities to provide operation and maintenance services to the mining and metals industries in the Southeast Asia Pacific region, Africa and beyond.
In June, Outotec completed the acquisition of all the shares in Demil Manutenção Industrial Ltda, located in Guarapari, Espírito Santo in Brazil. Demil provides industrial maintenance services for iron ore pelletizing plants.