Outotec Completes Deal for Ausmelt

Outotec Oyj has completed the acquisition of Australia-based company Ausmelt Ltd. Outotec, headquartered in Finland, now owns 100 percent of the shares and votes of the company.

Outotec provides equipment and services for companies involved in the mining and metals industries.

Late last year Outotec announced that it had acquired 19.9 percent of the outstanding shares in Ausmelt and launched a takeover bid to acquire the remaining shares.

"One of Outotec's strategic growth initiatives is the 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.