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Tetra Tech To Acquire Australia's Proteus EPCM

Stocks in this article: TTEK

PASADENA, Calif. (AP) â¿¿ Tetra Tech Inc., an engineering and construction consultant for water and energy projects, said Wednesday that it reached a deal to acquire Australia's Proteus EPCM Engineers for an undisclosed sum.

The Perth, Australia-based mining engineering company has about 150 employees and posts annual revenue of about $30 million. The deal is expected to close early next month, Tetra Tech said.

Company officials said the acquisition will serve as a gateway for Pasadena, Calif.-based Tetra Tech to new markets across Asia and Africa.

Proteus has provided engineering services to mining and minerals processing companies for more than 25 years. Tetra Tech said it expects the addition to expand its technical capability and expertise in iron ore and bulk handling.

In afternoon trading, Tetra Tech shares rose 6 cents to $22.26.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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