SGS to acquire The Time Mining Group of Companies, South Africa
SGS is pleased to announce that it has entered into final negotiations to acquire the Time Mining Group of Companies in South Africa.
The Time Mining Group specializes in providing process plant design, project management and commissioning and optimization services for minerals processing plants that are owned and operated by large, intermediate and junior mining companies. Time Mining Group is also a provider of analytical services, commercial and on-site laboratories through their Performance Laboratories entity.
Based in Johannesburg and active throughout Africa and internationally, the Group operates principally under the names of Time Mining and Processing Pty Ltd., Performance Laboratories Pty Ltd., Time Mining (Ghana) Limited and Dump and Dune Drillers Pty Ltd.
Founded in 1987 and privately owned, the Group employs 370 staff and is expected to generate 2012 Revenues in excess of ZAR 300 million.
The transaction is subject to the approval by the South African Competition Commission and is expected to close within the next few weeks.
“I am very pleased and excited with this acquisition. It strengthens the expertise of our Minerals Services team, further expands our footprint in Africa and other key minerals markets as well as delivering on our plans to offer SGS clients a unique and comprehensive technical service offering” said Chris Kirk, CEO of SGS.
For further information, please contact:
Jean-Luc de Buman
Communications & IR
1 place des Alpes
CH - 1211 Geneva 1
t: +41-22 739 91 11
f: +41-22 739 92 00
SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 75,000 employees, SGS operates a network of over 1,500 offices and laboratories around the world.