Outotec to acquire Brazilian service provider Demil

Finnish mining and metal manufacturing equipment provider Outotec has announced that it will acquire 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.
 
According to Outotec's statement, the parties have not disclosed the acquisition price. The completion of the transaction is subject to certain conditions expected to be fulfilled by the end of May 2012.
 
The acquisition will help Outotec to further develop its service business and capabilities in Brazil. Demil's services can be offered to Outotec's Brazilian customers, and to pelletizing technology users in particular. In two to three years, Outotec expects to double the annual sales of Demil which currently stand at €10 million.