SOLIDIUM INVESTS IN OUTOTEC OYJ7.3.2012
Solidium now owns 5.1 per cent of the shares
Solidium Oy has acquired 5.1 per cent of the shares in Outotec Oyj for approximately EUR 91 million. Average purchase price of the shares was EUR 39.1 per share. Outotec is one of the world’s leading technology and service providers for the mining and metals industries.
”Outotec fits well into Solidium’s portfolio. There is a lot of expertise in Finland related to mining and metallurgy and Outotec is a key company in this cluster. Outotec is a remarkable company with top quality expertise in the value chain from minerals to metals. Outotec’s prospects are good especially because the growth in the developing markets drives an increasing need for minerals and metals processing capacity. We consider the company as a very interesting investment target. Solidium might increase its holding in the company further, depending on market conditions”, says Solidium's Managing Director Kari Järvinen.
Outotec is a leading provider of technologies and process solutions for the mining and metallurgical industries. The company is also a pioneer in developing sustainable process solutions. In 2011 the company’s turnover was EUR 1 386 million and operating profit excluding one-off items amounted to EUR 122 million. The number of employees amounted to approximately 3 900 at the end of year 2011. Outotec operates globally: it has offices in 24 countries and it supplies to more than 80 countries. The company's shares are listed on NASDAQ OMX in Helsinki.
Further information: Managing Director Kari Järvinen, Solidium Oy, tel. +358 (0)10 830 89 05
Solidium is a limited company wholly owned by the State of Finland. Its mission is to strengthen and stabilise Finnish ownership in nationally important companies and increase the value of its holdings in the long run. Investment activities are based on financial analysis. The core of Solidium’s investment strategy is proper, value enhancing asset management of the current holdings. Through its stakes, Solidium is a minority owner in twelve listed companies: Elisa, Kemira, Metso, Outokumpu, Outotec, Rautaruukki, Sampo, Sponda, Stora Enso, Talvivaara Mining Company, TeliaSonera and Tieto. The market value of Solidium’s investments is approximately EUR 7.6 billion at the date of this press release. Further information: www.solidium.fi