Finland-based steelmaker Outotec has announced that it has completed the acquisition of Australia-based mining services company TME Group. The parties have not disclosed the acquisition price.
Outotec stated that the company aims to accelerate its service business growth and to increase its global annual services sales to €500 million by 2015.
According to Outotec's statement, this acquisition, first announced on July 10, 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.