PASADENA, Calif.--(BUSINESS WIRE)--Tetra Tech, Inc. (NASDAQ: TTEK) announced today that it has entered into a definitive agreement to acquire substantially all of the assets of mining engineering company Proteus EPCM Engineers of Perth, Australia. Proteus has about 150 employees primarily located in Western Australia and has annual revenue of approximately $30 million. The acquisition is expected to close in early August 2011.
“This is an important step in the execution of Tetra Tech’s global expansion strategy,” said Dan Batrack, Tetra Tech’s Chairman and CEO. “Like Canada, Australia’s high-growth economy is driven by strong demand for natural resources. This acquisition will serve as a gateway to new markets across Asia and Africa. We plan to continue expanding our service offerings in Australia in each of Tetra Tech’s core markets.”
An established regional player in Western Australia, Proteus has provided engineering services to the mining and minerals processing sector for more than 25 years. Proteus has experience in a wide range of commodities, particularly iron ore, precious and base metals, gold, mineral sands, and aluminum. They generally act as the owner’s engineer, designing facilities and providing procurement and construction management services. Proteus will expand Tetra Tech’s technical capability and bring new expertise in iron ore and bulk handling. Proteus is joining Tetra Tech’s Engineering and Consulting Services segment.
About Tetra Tech (www.tetratech.com)
Tetra Tech is a leading provider of consulting, engineering, program management, construction, and technical services addressing the resource management and infrastructure markets. The Company supports government and commercial clients by providing innovative solutions focused on water, the environment, and energy. With approximately 12,000 employees worldwide, Tetra Tech’s capabilities span the entire project life cycle.
Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and 10-Q filings with the Securities and Exchange Commission.