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Outotec Completes Acquisition of Ausmelt
03/29/2010 - Outotec has successfully completed its acquisition of Ausmelt Ltd and owns now 100% of all the company’s shares and votes.
Outotec has successfully completed the acquisition of Australian listed company Ausmelt Ltd and owns now 100% of all the company’s shares and votes.
"One of Outotec's strategic growth initiatives is acquisition of complementary technologies,” said Pertti Korhonen, President and CEO of Outotec. “Ausmelt has an excellent strategic fit with Outotec. This acquisition complements our technology portfolio in environmentally sound smelting technologies, and allows us to offer smaller scale copper and nickel smelters as well as solutions for ferrous metals, zinc, lead and tin concentrates, zinc bearing residues, recycling and various secondary and waste materials.”
Outotec had announced in December 2009 that it had acquired 19.9% of the outstanding shares in Ausmelt and launched an off-market takeover bid to acquire the remaining shares. In the transaction, Ausmelt was valued at approximately AUD 50 million (EUR 31 million).
“We believe that within Outotec there are significant growth opportunities for the Ausmelt business," concluded Korhonen.
Outotec is a worldwide technology leader providing innovative and environmentally sound plants, processes, equipment and services for a wide variety of customers in minerals and metals processing as well as related process industries.
