Outotec Increases Ownership in Ausmelt
12/28/2009 - Outotec has increased its holding in Australian public company Ausmelt Ltd. through market purchases and now holds 37.4% of all the Ausmelt shares. As a result, Ausmelt has become an associated company of Outotec.
Outotec has increased its holding in Australian public company Ausmelt Ltd. through market purchases and now holds 37.4% of all the Ausmelt shares. As a result, Ausmelt has become an associated company of Outotec.
On December 10, Outotec announced that it had acquired 19.9% of the outstanding shares in Ausmelt from the interests associated with company founder Dr. John Floyd. Outotec also launched an off-market takeover bid to acquire all shares in Ausmelt.
A competing takeover bid for the Ausmelt shares has been published in Australia, wherefore Outotec has amended and may further amend the terms of its initial bid. The company says it will announce further information once the takeover process has been completed.
Outotec says that the acquisition of Ausmelt will not affect its outlook or financial result in 2009, nor have a material impact on its financial position.
Ausmelt designs and supplies Top Submerged Lance (TSL) Smelting Technology, a high-intensity bath smelting technique with wide application in the nonferrous, ferrous, and precious metals industry.
