1 July 2008 // Acquisition of UltraSort

Published: 01/07/2008
Category: Corporate

"Tomra Systems ASA, through its fully owned subsidiary TiTech AS, has today entered into an agreement to acquire 100 percent of the business and assets in UltraSort Group, comprising UltraSort Pty Limited and Fynsort Technology Limited."

With offices in Sydney and Perth in Australia, UltraSort is a leading provider of advanced recognition and sorting technology to the mining industry.

"The Group" recorded revenues of approximately NOK 35 million in 2007 with strong margins. More than 50 UltraSort sorting systems have been sold worldwide, mainly in Canada, Africa and Australia.

The acquisition of UltraSort represents another important step towards realizing TiTech Group's strategy and ambition of becoming a leading global provider of sensor based recognition and sorting solutions, also within mining.

By acquiring UltraSort, TiTech expands and complements its portfolio of industrial processing technology. UltraSort brings to the table both unique, patented technology and material market positions in several fast-growing segments of the mining equipment industry.

In addition to representing an interesting growth case on its own, UltraSort is a strong strategic fit with Commodas (TiTech's unit within the mining segment), and the two units combined will form the sole market leader in the segment. Combined, Commodas and UltraSort have almost 150 sorting systems in mining operations located throughout the world.

For questions or further comments, please contact President & CEO Amund Skarholt (+47 97 5594 25) or Managing director TiTech Rune Marthinussen (+47 91 55 97 18).

Asker, 1 July 2008
TOMRA SYSTEMS ASA

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