Normet has acquired Chile-based tunnelling and mining equipment manufacturer Semmco in an strategic move to expand into Latin America.
The Finnish group said both companies had key expertise in sprayed concrete and pointed to Semmco’s development of a robotic wet process as important. The Chilean acquisition also manufactures concrete pumps and equipment.
The Semmco business and activities are to be merged with Normet Chile, which will locate in Semmco’s facilities in Santiago. All 45 staff are transferring under the deal. The business will operate under Normet Americas.
Normet’s chief operating officer, Tom Melbye, who noted he has known the Semmco family owners for 15 years – as both competitors and partners – said: ‘This acquisition brings a whole new dimension into Normet.’ Semmco’s revenues for this year are estimated to be US$7.6M.
A year ago, Normet announced plans to pursue both acquisitions and organic growth in its plan to be a global player in speciality underground equipment. It also saw a strategic shift from being product-driven to market-driven with an expansion in customer service capability.
