Tenova to sell assets of Bateman Projects to SGS

Divestment

Tenova to sell assets of Bateman Projects to SGS

Tenova announced that it has entered into final negotiations with SGS to sell its EPCM business operations based in South Africa, known as Bateman Projects. Tenova will remain active in the Mining industry, focusing its activities in the technology and equipment sector.
(ed. WoMaMarcel - 09/10/2015)
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Tenova announced that it has entered into final negotiations with SGS to sell its EPCM business operations based in South Africa, known as Bateman Projects.

Milano, Italy – Bateman Projects specialize in providing process plant design and engineering, project management and commissioning and optimizations services for mineral processing plants and over a variety of minerals including gold, iron ore, copper, uranium and coal. The Bateman Modular Process Plant business and expertise will form part of this transaction. The transaction is subject to the approval by the South African Competition Commission and is expected to close within the next few weeks.

Based in Johannesburg and active throughout South Africa, Sub Saharan Africa as well as providing specialized project services in many other parts of the world, the business employs 250 experts and staff and has generated revenues in excess of EUR 30 million in the latest financial year (ended June 30,2015).

“With SGS we have found a perfect fit to pursue further opportunities for our South African EPCM operations to grow within the industry. Tenova will further develop its activities in the Mining industry, focusing on the technology and equipment sector and through its successful branches Takraf and Delkor, both worldwide recognized partners for the industry with strong market positions.” commented Andrea Lovato, CEO of Tenova.

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