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Finnish state-owned investor Solidium takes €91m stake in Outotec Oyj

7 Mar 2012

Finland’s state-owned investment firm Solidium Oy has bought a 5.1 per cent stake in mining technology company Outotec Oyj for €91m.

The company, which has pioneered sustainable process solutions in mining and metallurgy, turned over more than €1.3bn in 2011 and generated an operating profit of €122m, excluding one-off items.

The average purchase price of the shares was €39.1, valuing the company at more than €1.7bn.

Solidium managing director Kari Järvinen said, “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.”

He added Solidium could increase its holding in the company depending on market conditions.

Solidium focuses investments on strengthening and stabilising Finnish ownership in nationally important companies as well as increase the value of its holdings.

The firm, which controls about €7.6bn of investments, is a minority owner in 12 listed companies including telecoms services provider Elisa and chemicals company Kemira.

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