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.