COMPANY NEWS
Normet completes full acquisition of TAMJun 2012
Normet News Release
Chemicals manufacturer TAM becomes a wholly owned subsidiary of Normet after the Finnish tunnel services company completed a full acquisition.
In April 2010 Normet acquired 40% of TAM to form a global partnership which has proved so successful it acquired the remaining 60% earlier this month (June, 2012).
"Our 40% ownership in TAM was a logical step forward in Normet's quest to offer the industry specialist equipment for tough jobs and a total solution offering that our customers see real value in. With the complete acquisition of TAM, we can really accelerate our ability to provide both new and existing Normet customers around the world entire process solutions that lower their risk and help achieve a positive project outcome", said Aaro Cantell, Chairman of Normet Group.
TAM is currently involved in many major tunnelling projects in Taiwan, Hong Kong, the UK (including Crossrail), and also in Singapore. It is also active in mining projects in Australia, Sweden and Ireland.
Founded in 1982, TAM is a leader in specialist chemicals and systems for waterproofing, leak sealing, repair and protection for the civil construction, underground construction and general building industry. TAM has over 100 employees worldwide along with manufacturing and sales operations in Australia, the UK, Taiwan and Singapore as well as sales and marketing operations in Hong Kong, ASEAN and Europe.
"During the last two years of the partnership, TAM has grown significantly and now that it is fully integrated into Normet's own construction chemical business line, it makes us one of the leading specialist suppliers of process solutions to the global underground mining and tunnelling sector, " said Tom Melbye, President of Normet Group and Managing Director of Normet International Ltd. "TAM's experienced personnel, and resources, will strengthen Normet's ability to be a reliable, long-term partner for our customers in all different types of projects and conditions including underground, geotechnical engineering and general construction projects."
TAM companies worldwide will eventually operate under the Normet company name, and "TAM" will be retained as the product brand name for construction chemical products.
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