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Espoo, Finland -- Outotec has successfully completed the acquisition of Australian listed company Ausmelt Ltd and owns now 100 percent of all the shares and votes of the company.
Outotec announced in December 2009 that it had acquired 19.9 percent of the outstanding shares in Ausmelt and launched an off-market takeover bid to acquire all the remaining shares. In the transaction Ausmelt was valued at approximately AUD 50 million (EUR 31 million).
"One of Outotec's strategic growth initiatives is acquisition of complementary technologies. 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. We believe that within Outotec there are significant growth opportunities for the Ausmelt business," says Pertti Korhonen, President and CEO of Outotec.
Source: http://www.outotec.com/
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