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Acquiring Archives - Core Sector Communique https://www.corecommunique.com/tag/acquiring/ at the very Core of it all ... is Content! Tue, 19 Jun 2018 11:34:37 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.3 https://www.corecommunique.com/wp-content/uploads/2013/12/Core-Logo-21-150x150.jpg Acquiring Archives - Core Sector Communique https://www.corecommunique.com/tag/acquiring/ 32 32 F-Secure Takes A Big Step Towards Cyber Security Leadership By Acquiring MWR InfoSecurity https://www.corecommunique.com/f-secure-takes-a-big-step-towards-cyber-security-leadership-by-acquiring-mwr-infosecurity/?utm_source=rss&utm_medium=rss&utm_campaign=f-secure-takes-a-big-step-towards-cyber-security-leadership-by-acquiring-mwr-infosecurity Tue, 19 Jun 2018 11:34:37 +0000 http://corecommunique.com/?p=96434 Acquisition adds industry leading threat hunting platform to F-Secure’s detection and response offering and expands cyber security services to the biggest markets globally   New Delhi, India– June 19, 2018: F-Secure has on 18 June 2018 signed an agreement to acquire all the outstanding shares of MWR InfoSecurity, a privately held cyber security company operating globally ...

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Acquisition adds industry leading threat hunting platform to F-Secure’s detection and response offering and expands cyber security services to the biggest markets globally

 

New Delhi, India– June 19, 2018: F-Secure has on 18 June 2018 signed an agreement to acquire all the outstanding shares of MWR InfoSecurity, a privately held cyber security company operating globally from its main offices in the UK, the US, South Africa and Singapore. The acquisition is a significant milestone in the execution of F-Secure’s growth strategy, and makes it the largest European single source of cyber security services and detection and response solutions.

Today businesses are challenged by a dynamic advanced threat landscape in which attackers continuously use well-designed technology to circumvent traditional protection. Security perimeters are no longer enough to protect organizations, and developing better security capabilities on their own is out of reach for many organizations. Due to the shortage of skilled cyber security experts in-house there is a huge demand for both products and services to proactively search for newly emerging threats, detect and respond faster and especially stop future incidents. F-Secure’s combination of man and machine – an approach shared by MWR InfoSecurity – uniquely positions the company to support businesses to fight advanced attacks with its cyber security products and services.

“The acquisition brings MWR InfoSecurity’s industry-renowned technologies to F-Secure making our detection and response offering unrivaled. Their threat hunting platform (Countercept) is one of the most advanced in the market and is an excellent complement to our existing technologies,” said F-Secure CEO Samu Konttinen. “I’m thrilled to welcome MWR InfoSecurity’s employees to F-Secure. With their vast experience and hundreds of experts performing cyber security services on four continents, we will have unparalleled visibility into real-life cyber attacks 24/7. This enables us to detect indicators across an incredible breadth of attacks so we can protect our customers effectively. As most companies currently lack these capabilities, this represents a significant opportunity to accelerate F-Secure’s growth.”

With close to 400 employees, MWR InfoSecurity is among the largest cyber security service providers serving enterprises globally. MWR InfoSecurity has highly skilled experts in offensive techniques who understand the attacker mindset and is well-known in the industry for its technical expertise and research. Its threat hunting platform Countercept provides extensive proactive attack detection and complements F-Secure’s existing strengths. Additionally, F-Secure’s portfolio will be enhanced by MWR InfoSecurity’s suite of managed phishing protection services (phishd). As cyber criminals increasingly target companies through their employees, it’s crucial to enable company personnel to identify and avoid these email borne attacks.

“We’ve always relied on research-driven innovations executed by the best people and technology. This approach has earned MWR InfoSecurity the trust of some of the largest organizations in the world,” says MWR InfoSecurity CEO, Ian Shaw who will join F-Secure’s Leadership Team after closing of the transaction in July. “We see this approach thriving at F-Secure, and we look forward to working together so that we can break new ground in the cyber security industry.”

The combined company will have hundreds of the world’s best cyber security consultants, making F-Secure one of the few truly global technical security advisors positioned to help organizations fight today’s most sophisticated threats. Learnings from the most challenging incident investigations and from targeted attack simulations provide insights that feed directly back into product creation, ensuring the company’s detection and response solutions are constantly upgraded to meet the latest threats.

Financial overview of MWR InfoSecurity

Figures in the table are for illustrative purposes only and reflects MWR InfoSecurity’s accounting principles according to UK GAAP. Figures for financial year 2017 are based on MWR InfoSecurity’ audited financial statements. Figures for 2018 reflect MWR InfoSecurity’s estimated financial performance for the financial year ending on 30 June, 2018.

GBP million 1 Jul 2016 – 30 Jun 2017 1 Jul 2017 – 30 Jun 2018 Change
Revenue 21.6 27.6 +28%
EBIT -0.5 -0.4 +20%

EUR million 1 Jul 2016 – 30 Jun 2017 1 Jul 2017 – 30 Jun 2018 Change
Revenue 25.1 31.1 +24%
EBIT -0.6 -0.5 +22%

Figures have been translated into Euros by using the average exchange rate for the British Pound for the financial period (0.8595 forFY2017: 1 July 2016 – 30 Jun 2017; 0.8870 for FY2018: 1 July 2017 – 31 May, 2018).

Completion, consideration and financing

The transaction is expected to be completed in early July 2018. The initial cash consideration for the completed acquisition of all of the outstanding shares of MWR InfoSecurity Limited is GBP 80 million (EUR 91,6 million), subject to customary cash, debt and working capital adjustments. In addition, an earn-out of a maximum of GBP 25 million (EUR 28,6 million) in cash will be paid after 18 months of the completion subject to the achievement of agreed business targets for the period from 1 July, 2018, until 31 December, 2019.

Consideration figures have been translated into Euros by using the average exchange rate of 0.8732 for the British Pound on 15 June 2018.

F-Secure is financially well-prepared for the transaction with a strong balance sheet. The transaction will be financed by F-Secure’s cash reserve and committed bank financing. The bilateral EUR 60 million five-year financing arrangement with Nordea Bank comprises a long term loan as well as a revolving credit limit and includes customary covenants. The upfront payment will be made with company’s cash assets and the term loan of EUR 37 million.

About F-Secure

Nobody knows cyber security like F-Secure. For three decades, F-Secure has driven innovations in cyber security, defending tens of thousands of companies and millions of people. With unsurpassed experience in endpoint protection as well as detection and response, F-Secure shields enterprises and consumers against everything from advanced cyber attacks and data breaches to widespread ransomware infections. F-Secure’s sophisticated technology combines the power of machine learning with the human expertise of its world-renowned security labs for a singular approach called Live Security. F-Secure’s security experts have participated in more European cyber crime scene investigations than any other company in the market, and its products are sold all over the world by over 200 broadband and mobile operators and thousands of resellers.

Founded in 1988, F-Secure is listed on the NASDAQ OMX Helsinki Ltd.

f-secure.com twitter.com/fsecure | facebook.com/f-secure

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ROLI extends leadership in music technology innovation by acquiring FXpansion, a sound and software pioneer https://www.corecommunique.com/roli-extends-leadership-music-technology-innovation-acquiring-fxpansion-sound-software-pioneer/?utm_source=rss&utm_medium=rss&utm_campaign=roli-extends-leadership-music-technology-innovation-acquiring-fxpansion-sound-software-pioneer Fri, 02 Sep 2016 10:03:04 +0000 http://corecommunique.com/?p=64331 ROLI will continue development of FXpansion products, as it integrates technologies to create musical instruments of the future September 1, 2016 London — Music technology leader ROLI has acquired FXpansion, the renowned maker of software instruments, as it accelerates development of the musical instruments of the future. London-based FXpansion adds a vast collection of sounds ...

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Roli-and-FX-logosROLI will continue development of FXpansion products, as it integrates technologies to create musical instruments of the future

September 1, 2016

London — Music technology leader ROLI has acquired FXpansion, the renowned maker of software instruments, as it accelerates development of the musical instruments of the future.

London-based FXpansion adds a vast collection of sounds and effects to ROLI’s growing ecosystem of music creation tools. The Seaboard, ROLI’s touch-responsive instrument that is acclaimed as “the future of the keyboard,” will now be developed alongside FXpansion’s virtual instruments including BFD3, the world’s largest collection of acoustic drum sounds, and Strobe2, the analogue-modeled software synthesizer. The combined ROLI team will integrate its technologies, as ROLI creates a new class of digital instruments that are more expressive and versatile than anything before it.

Deepening ROLI’s capabilities in sound and software, FXpansion products also extend ROLI’s stack of technologies — which is already more diverse than any other in the music technology space. Beyond the Seaboard ROLI has developed Equator, the software synthesizer; NOISE, the free app that turns iPhones into musical instruments; Blend, the social platform for music collaboration; and JUCE, the C++ coding framework for audio developers.

Roland Lamb, founder and CEO of ROLI, said, “We are creating a Connected Music ecosystem of devices that will change the way people make and enjoy music. Our leadership in music technology innovation — across both software and hardware — strengthens with every link we add to ROLI’s toolchain. We’re excited to continue pushing the boundaries of musical expression and technological innovation with FXpansion, which has been at the forefront of audio software development for the past 15 years.”

Angus Hewlett, founder and CEO of FXpansion, said, “This acquisition is a momentous opportunity for FXpansion. Together ROLI and FXpansion can create best-in-class instruments, even as we continue to develop the FXpansion products our users know and love.”

The acquisition follows ROLI’s $27 million Series B fundraising — led by U.S.-based Foundry Group — in May 2016. It concludes a transformative 12-month period during which ROLI released the Seaboard RISE, a touch-responsive MIDI controller that the Consumer Technology Association hailed as the most innovative Computer Peripheral product of 2016.

ROLI will support and develop FXpansion’s family of products which also includes Geist2, the beat production system, and a range of sound effect plug-ins such as Maul and Bloom. FXpansion products will continue to be sold in their current form. Customer support and product maintenance will be available on all of the current channels. Anticipated updates — including the release of BFD 3.2 and Cypher2 — are progressing.

All FXpansion team members will join ROLI, where they will take on new roles as they continue to develop FXpansion’s products. Angus Hewlett will become Head of Sound Synthesis and Lead Software Engineer. Rhiannon Bankston-Thomas, FXpansion’s Chief Operating Officer and Chief Financial Officer, will become ROLI’s Head of Software Program Management. Skot McDonald, Chief Technology Officer, will become ROLI’s Lead Software and Research Engineer.

About ROLI

ROLI is a London-based technology company that is creating a Connected Music ecosystem. The award-winning Seaboard RISE and Seaboard GRAND are revolutionary musical instruments that let music-makers express more on a soft, touch-responsive surface. NOISE, the free app, turns the iPhone into a fun and powerful handheld instrument. Equator, ROLI’s groundbreaking software synthesizer and sound engine, enables multidimensional musical expression on a range of compatible instruments. JUCE, the leading C++ framework for audio applications, is making music programs run faster in real time. Blend is building a community for music collaboration by letting artists share their projects on an open social platform. Through hardware, software, social, and audio-developer products, ROLI is creating a chain of music-making tools that lets people express more.

About FXpansion

FXpansion is one of the world’s leading developers of audio instruments and effects for software platforms. Its mission is to push the boundaries of audio software and provide professional-grade products that are also accessible to prosumers. Founded in 1999, FXpansion’s first products included DR-008, a powerful drum synthesis and sampling instrument. In 2003 it released BFD, a revolutionary acoustic drum sample instrument that has been continually updated, offering the world’s largest collection of studio-quality drum sounds to musicians, composers, and engineers. FXpansion’s industry-renowned synthesis products include Strobe2, which features accessible user interfaces that make sound design more intuitive. Geist2, its beat production system, released in April 2016. Other products include Tremor, Bloom, Etch, and Maul.

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QuikrJobs Expands into White Collar Jobs by Acquiring Hiree https://www.corecommunique.com/quikrjobs-expands-white-collar-jobs-acquiring-hiree/?utm_source=rss&utm_medium=rss&utm_campaign=quikrjobs-expands-white-collar-jobs-acquiring-hiree Mon, 25 Jul 2016 15:07:01 +0000 http://corecommunique.com/?p=62520 Becomes a full-scale recruitment platform that plays across blue and white collar market segments   Bangalore, July 25, 2016 – Quikr, India’s No. 1 cross category classifieds business, today announced that it has acquired Hiree, an online hiring platform focused on white collar jobs. Hiree which counts world’s largest IT companies and India’s highest valued startups in ...

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quikrBecomes a full-scale recruitment platform that plays across blue and white collar market segments

 

Bangalore, July 25, 2016 – Quikr, India’s No. 1 cross category classifieds business, today announced that it has acquired Hiree, an online hiring platform focused on white collar jobs. Hiree which counts world’s largest IT companies and India’s highest valued startups in its customer list will be merged with its jobs vertical QuikrJobs and will operate out of Quikr HQ. Already a leading recruitment platform for blue, grey collar and entry-level jobs across India, the acquisition will further strengthen QuikrJobs’ offerings to address recruitment needs for the entire spectrum of job categories across industries.

The combined entity will create a leading recruitment platform that connects over 4mm active candidates with recruiters across the country. The enhanced product portfolio coupled with Quikr’s pioneering missed call service will make a larger talent pool available to recruiters for entry-level, blue collar as well as white collar lateral hires.

Talking about the move, Pranay Chulet, Founder & CEO, Quikr said, “We launched QuikrJobs with an aim to bridge the gap between Bharat and India for the recruitment industry. We have created a successful business model there and it’s now time to level-up. Speed is in our DNA and Hiree’s offerings aimed at shortening recruitment cycle times is a great match with that.”

Manjunath & Abhijit, Founders of Hiree said, “Joining forces with Quikr allows us to double-up our focus on innovating in recruitment space for both job seekers and our customers. Our customers will now gain the benefits of Hiree’s technology and massive scale of Quikr in parallel.”

Amit Jain, Head of QuikrJobs said, “Access to products like Video Resume on the supply side and Walk-In Management solution on the demand side will instantly boost our offerings. In a short span of time, Hiree has built a strong client base and we look forward to bringing our combined offering to our combined client bases. With technology led innovation at the core of both platforms, together we form a formidable force that plays across the entire job spectrum.”

QuikrJobs recently reached a milestone of over 10 lakh job seeker profiles created through its missed call service alone. This in addition to profiles created via desktop and mobile. The platform offers an easy to understand role-based search for both recruiters and job-seekers across full-time, part-time, work-from-home and even work abroad options.

With several firsts to its credit along with its verticalization strategy, Quikr has been growing organically and inorganically. Under QuikrHomes, it acquired Indian companies such as Realty Exchange (IRX), realtycompass and CommonFloor in the last few months. It also made a strategic investment in A N Virtual Tech. Under QuikrServices, it acquired beauty services company Salosa and subsequently launched its own beauty services brand AtHomeDiva.

 

 

About Quikr

Quikr is India’s largest and broadest classifieds platform that is used by over 30 million unique users a month. It is present in 1000 cities in India and operates several large classifieds businesses across C2C, Cars, Education, Homes, Jobs and Services. Quikr is accessible across mobile app, mobile site as well as desktop, and allows consumers as well as small businesses to sell, buy, rent and find things across its multiple categories with great ease. Quikr’s investors include Tiger Global Management, Kinnevik, Warburg Pincus, Matrix Partners India, Norwest Venture Partners, Nokia Growth Partners, Steadview Capital, Omidyar Network, and Ebay Inc. Visit www.quikr.com for more details.

About Hiree

Founded by Ex-Yahoo stalwarts – Manjunath Talwar and Abhijit Khasnis, Hiree is at the forefront of innovation in the recruitment space. It has leapt ahead of competition by constantly adding benefits like smart matching algorithms, real-time alerts, a unique private messaging system and dedicated Android app for recruiters. The recently launched Walk-in management system and novel way of posting resumes as videos are keeping Hiree ahead. Hiree’s vision is to be the fastest technology driven hiring platform.

The company is invested by IDG Ventures India Pvt Ltd. Ravi Gururaj is an advisor to the company. The angels include Raghu Krishnananda, Shamsunder Talreja and Prashant Kirtane

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Outotec strengthens its portfolio of gold processing technologies by acquiring Biomin with their BIOX® bioleaching technology https://www.corecommunique.com/outotec-strengthens-its-portfolio-of-gold-processing-technologies-by-acquiring-biomin-with-their-biox-bioleaching-technology/?utm_source=rss&utm_medium=rss&utm_campaign=outotec-strengthens-its-portfolio-of-gold-processing-technologies-by-acquiring-biomin-with-their-biox-bioleaching-technology Fri, 31 Jul 2015 10:30:03 +0000 http://corecommunique.com/?p=42412 Outotec has agreed to acquire the majority of the shares in Biomin South Africa Pty. Ltd. and certain assets from Biomin Technologies S.A. in Switzerland. With this acquisition Outotec gets the full intellectual property and marketing rights of BIOX® bioleaching technology, which is a proven method for the treatment of refractory gold ores. The parties ...

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outotecOutotec has agreed to acquire the majority of the shares in Biomin South Africa Pty. Ltd. and certain assets from Biomin Technologies S.A. in Switzerland. With this acquisition Outotec gets the full intellectual property and marketing rights of BIOX® bioleaching technology, which is a proven method for the treatment of refractory gold ores. The parties have agreed not to disclose the acquisition price. The acquisition in expected to be closed in a few weeks and it will not impact Outotec’s financial guidance for 2015.

 

Biomin’s BIOX® technology complements Outotec’s portfolio of gold processing technologies. Gold ore bodies are becoming more complex to treat and consist of refractory ores as the less refractory gold ores become depleted. Roughly 20% of the world’s current gold projects and a third of upcoming projects are based on refractory ore that needs to be pre-treated before the leaching process. There are three main pre-treatment methods for refractory gold ores; pressure oxidation, roasting, and bioleaching. BIOX® is proven technology for bioleaching and its annual business volume has been some millions of euros.

 

“A significant challenge for gold mining companies is to find an economically viable process to treat more complex ore bodies. This acquisition will strengthen Outotec’s position in the refractory gold ore processing market. Combining the BIOX® bioleaching expertise with our engineering capabilities and proprietary equipment, such as grinding mills, reactors and thickeners, we intend to provide gold producers complete sustainable plants with life-cycle services”, says Outotec CEO Pertti Korhonen.

 

 

 

Outotec provides leading technologies and services for the Sustainable use of Earth’s natural resources. As the global leader in minerals and metals processing technology, we have developed many breakthrough technologies over the decades for our customers in metals and mining industry. We also provide innovative solutions for industrial water treatment, the utilization of alternative energy sources and the chemical industry. Outotec shares are listed on NASDAQ OMX Helsinki. www.outotec.com

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IMImobile strengthens position as leading mobile solution provider by acquiring TextLocal https://www.corecommunique.com/imimobile-strengthens-position-leading-mobile-solution-provider-acquiring-textlocal/?utm_source=rss&utm_medium=rss&utm_campaign=imimobile-strengthens-position-leading-mobile-solution-provider-acquiring-textlocal Tue, 14 Oct 2014 13:47:52 +0000 http://corecommunique.com/?p=28144 TextLocal’s best-in class mobile messaging platform for SMBs has served over 120,000 businesses.   Mumbai, India, 14th October, 2014 – IMImobile, a global technology company providing software and services which help businesses capitalise on the growth in mobile communications, today announced the acquisition of TxtLocal Limited (TextLocal), an award winning self-service, cloud based, mobile messaging ...

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imimobileTextLocal’s best-in class mobile messaging platform for SMBs has served over 120,000 businesses.

 

Mumbai, India, 14th October, 2014 – IMImobile, a global technology company providing software and services which help businesses capitalise on the growth in mobile communications, today announced the acquisition of TxtLocal Limited (TextLocal), an award winning self-service, cloud based, mobile messaging business.

 

Named one of the fastest growing technology companies in 2013 by Deloitte and GP Bullhound in 2014, TextLocal is the leading mobile communications company focused on enabling SMBs to harness the capabilities of mobile messaging. Based in Chester and Malvern, TextLocal has served over 120,000 businesses, including customers such as Debenhams, Paddy Power, Greenpeace, Groupon and P&O Ferries

 

IMImobile has identified significant opportunity to leverage its global footprint to introduce TextLocal’s messaging platform to new international markets, industries and clients. The SMB mobile messaging market is forecasted by many analysts as one of the fastest growing segments and the TextLocal platform will form an essential element of IMImobile’s mobile engagement product portfolio to capitalise on this trend.

 

Jay Patel, CEO of IMImobile commented: “We are very pleased about the acquisition of TextLocal. The acquisition will allow us to target the small and medium sized business segment that we don’t currently serve and expand our cloud based mobile messaging offering. We look forward to working with the entire team and we will be integrating TextLocal into the Group over the next six months.

 

Furthermore, TextLocal and its customer base will benefit from IMImobile’s capabilities of delivering multi-channel customer engagement and mobile payments solutions that work in synergy with TextLocal’s innovative features such as mobile vouchers and ticketing.

 

Alastair Shortland, CEO and Founder of TextLocal added: “We are very excited to become a part of IMImobile, who are a global leader of providing mobile engagement solutions in over 60 countries worldwide. We will continue with the development of innovative features and look forward to working with IMImobile on our mission to revolutionise how SMBs can communicate with their customers to drive engagement levels.”

 

About IMImobile PLC

IMImobile is a leading global technology company providing software and services which help businesses capitalise on the growth in mobile communication. Its services, delivered in over 60 countries in Europe, the Americas, MEA and India, help its clients to engage and transact with their customers more efficiently through smarter mobile engagement. The company’s solution allow customers to use mobile as a channel to create new revenue streams, as CRM and customer engagement channel and as a channel to improve business operations.

 

IMImobile’s DaVinci suite of products are modular, scalable and delivered through cloud infrastructure which is integrated into mobile operator networks, internet services and social media platforms. The products and solutions have helped IMImobile establish a blue-chip client base of leading mobile operators and global enterprises. Key customers include Vodafone, O2, Telefonica, Aircel, Airtel, BSNL, AT&T, MTN, France Telecom, Centrica, Coca-Cola, Universal Music, Tata, the AA, the BBC and major financial institutions. The company is headquartered in London with offices in Hyderabad, Atlanta and Dubai and has 650 employees worldwide. IMImobile is quoted on the London Stock Exchange’s AIM market with the TIDM code IMO.

 

For more information visit www.imimobile.com or contact alex.klose(AT)imimobile.com.

 

About TxtLocal Ltd

 

Textlocal is a mobile communications company founded in 2005 with offices based in Malvern and Chester. In 2005, Alastair Shortland and Darren Daws decided they wanted to transform the way businesses, individuals and groups communicate using mobile, and set up Txtlocal Ltd. Since then, with the development of their Messenger product, it has allowed over 120,000 users to communicate via SMS, MMS and Mobile Web.

 

Its services include Inbound and outbound SMS and MMS communications using a web based control panel, SMS Gateway and MMS API, mobile web page creation, mobile forms and surveys, SMS attachments and mobile vouchers and loyalty cards.

 

In 2011, Txtlocal Ltd rebranded to become Textlocal, with a new website and branding. They are members of the Chartered Institute of Marketing, Institute of Direct and Digital Marketing, Direct Marketing Association and Federation of Small Businesses.

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Outotec strengthens its energy business by acquiring the business of KALOGEO Anlagenbau GmbH https://www.corecommunique.com/outotec-strengthens-energy-business-acquiring-business-kalogeo-anlagenbau-gmbh/?utm_source=rss&utm_medium=rss&utm_campaign=outotec-strengthens-energy-business-acquiring-business-kalogeo-anlagenbau-gmbh Mon, 28 Jul 2014 09:02:45 +0000 http://corecommunique.com/?p=25697 Outotec strengthens its energy business by acquiring the business of KALOGEO Anlagenbau GmbH Outotec has purchased the assets of KALOGEO Anlagenbau GmbH in Leobersdorf, Austria after the company became insolvent. KALOGEO has provided solutions for biomass, sludge and waste water treatment and designed, built and operated several mid-size thermal sludge treatment plants based on fluidized ...

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outotec

Outotec strengthens its energy business by acquiring the business of KALOGEO Anlagenbau GmbH

Outotec has purchased the assets of KALOGEO Anlagenbau GmbH in Leobersdorf, Austria after the company became insolvent. KALOGEO has provided solutions for biomass, sludge and waste water treatment and designed, built and operated several mid-size thermal sludge treatment plants based on fluidized bed technology. The transaction will not impact Outotec’s financial guidance for 2014.

Outotec plans to expand the acquired business to approximately EUR 15-20 million sales annually from 2016 onwards, including synergy benefits from more comprehensive product portfolio, larger customer base for service business and utilization of Outotec’s global sales and service network. Altogether five KALOGEO’s former employees will transfer to Outotec.

There is a growing demand worldwide for phosphates recycling and sustainable solutions for sewage sludge treatment. Outotec is currently designing and building large sewage sludge thermal treatment plants, for example the 100,000 t/a plant for the city of Zuerich in Switzerland. With the technology, knowhow and references of KALOGEO Outotec will expand its offering to small and medium-size sludge incineration plants. The KALOGEO technology also complements Outotec’s ASH DEC® technology acquired in 2011. The method is used to extract phosphorus fertilizer from ash produced in sludge incineration.

“The acquisition of KALOGEO Anlagenbau’s business supports our strategic target to expand to energy and industrial water treatment with high technological synergies. Energy production from biomass, sludge and waste in general is an interesting growth area for us. With our decades-long experience in developing fluidized bed technology and applications we can offer our customers sustainable solutions for turning waste to energy and valuable products and thus reduce environmental impacts such as greenhouse gas emissions”, says Outotec CEO Pertti Korhonen.

Outotec provides leading technologies and services for the Sustainable use of Earth’s natural resources. As the global leader in minerals and metals processing technology, we have developed many breakthrough technologies over the decades for our customers in metals and mining industry. We also provide innovative solutions for industrial water treatment, the utilization of alternative energy sources and the chemical industry. Outotec shares are listed on NASDAQ OMX Helsinki. www.outotec.com

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Mechel Reports Acquiring Controlling Stake in Vanino Sea Trade Port OAO https://www.corecommunique.com/mechel-reports-acquiring-controlling-stake-in-vanino-sea-trade-port-oao/?utm_source=rss&utm_medium=rss&utm_campaign=mechel-reports-acquiring-controlling-stake-in-vanino-sea-trade-port-oao Tue, 15 Jan 2013 03:58:14 +0000 http://corecommunique.com/?p=4977 Moscow, Russia – January 14, 2013 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, reports acquiring 55% (73.33% of common shares) of Vanino Sea Trade Port OAO. The acquisition was made in line with the company’s strategy of developing its mining division in a bid to expand its export ...

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mechelMoscow, Russia – January 14, 2013 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, reports acquiring 55% (73.33% of common shares) of Vanino Sea Trade Port OAO. The acquisition was made in line with the company’s strategy of developing its mining division in a bid to expand its export capacities and reduce transport costs in line with planned increases in coal mining volumes.

On December 29, 2012, the Government of the Russian Federation issued the decree #2608-r with respect to the disposal of federally owned shares of Vanino Sea Trade Port OAO (55% of share capital / 73.33% of common shares) whereby the buyer and the cost of the share package were confirmed. Mechel OAO logistics subsidiary Mecheltrans OOO was confirmed as the buyer. The sum of the transaction totalled some 15.5 billion rubles. Earlier Mecheltrans OOO won the auction for the port’s controlling stake, which was held on December 7, 2012.

Port Vanino is located in naturally deep Vanina Bay in the Strait of Tartary which links the Pacific Ocean’s Sea of Okhotsk and Sea of Japan. Vanino is the largest transport hub in the Khabarovsk Region and one of Russia’s ten largest ports. Its cargo turnover in 2012 totalled some 6 million tonnes. Vanino handles cargo bound for Russia’s North-East, Japan, South Korea, China, Australia, the United States and other Pacific states. Navigation at the port is open year round. Vanino is a universal port that fits ideally into the logistics of Mechel’s deliveries to Asia Pacific. Using its capacities will enable the company to consolidate its position as one of the world’s largest producers of metallurgical coals and significantly expand its customer base.

Port Vanino can process vessels up to 45,000 tonnes deadweight. Its infrastructure comprises 16 berths, storehouses and open storage space. Vanino is equipped with 64 cranes of 6 to 100 tonne hoisting capacity. The port also has a specialized container terminal. Open storage space totals 160,000 square meters, with usable storehouse area of some 37,000 square meters. Besides coal, the port can also handle ferrous and non-ferrous metals, ferroalloys, timber, mineral fertilizers, alumina, containers and other cargo.

“By gaining access to Port Vanino’s transhipment capacities, Mechel significantly expands its export capacities to Asia Pacific. Port Vanino is located only some 1,500 kilometers away from the company’s Yakutia coal assets. Port Vanino’s operations will indisputably improve our ability to manage the logistics of our deliveries, expand the range of our exports due to greater storage capacity and minimize our dependency on transport markets.

“The fact that Port Vanino’s coal transhipment capacities may be increased as early as in 2013 to 7 million tonnes a year at little expense and without any significant reconstruction of its facilities, gives us the chance of greatly reducing investment costs for construction of our own terminal at Vanino in the next 3-5 years.

“I would like to note separately that as a result of this transaction Mechel will ensure guaranteed sales volumes of the group’s coal products, including those produced at the Elga deposit,” Mechel OAO’s Chief Executive Officer Evgeny Mikhel commented.

Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.

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