Outotec Oyj : Outotec's acquisition of Energy Products of Idaho completed
OUTOTEC OYJ STOCK EXCHANGE RELEASE, DECEMBER 30, 2011 AT 6.15 PM
Outotec's acquisition of Energy Products of Idaho completed
Outotec has successfully completed the acquisition of all interests in Energy Products of Idaho Limited Partnership (referred to as 'EPI') in Coeur d'Alene, the United States.
The acquisition strengthens Outotec's portfolio of energy and environmental technologies and supports the company's growth strategy. EPI is expected to increase Outotec's sales by EUR 60-90 million annually, including synergies from stronger combined sales and service network.
"Energy Products of Idaho operates in the fast growing renewable and waste-to-energy market. Its products and services fit seamlessly into Outotec's technology portfolio. By combining our expertise and product portfolios we can provide sustainable technology solutions and services for the renewable energy sector and increase our market share," says Pertti Korhonen, CEO of Outotec.
The acquisition price consists of two components: a fixed cash element of approximately EUR 43 million and an earn-out payment of EUR 25 million at maximum based on EPI's financial performance in 2012 and 2013. The acquisition is in line with Outotec's long-term financial targets and does not impact the company's financial guidance for 2011.
For further information please contact:
Peter Weber, President - Energy, Light Metals and Environmental Solutions
tel. +49 6171 9693 165
Eila Paatela, Director - Corporate Communications
tel. +358 20 529 2004, +358 400 817 198
NASDAQ OMX Helsinki
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Source: Outotec Oyj via Thomson Reuters ONE