Finland-based Outotec Oyj, a global provider of process solutions, technologies and services for the mining and metallurgical industries, has announced that it has signed an agreement for the acquisition of Canada-based Auburn Group, a service provider for mining and metals industries.
The transaction worth approximately €10 million is expected to be closed in October 2008.
The acquisition is in line with Outotec's strategy to expand its service business to the annual level of €250-300 million by the end of 2010.