Normet Group Acquires 40% of TAM International and Forms a Global Partnership with TAM

Press release

Normet Group acquires 40% of TAM International and forms a global partnership with TAM

”A logical step for Normet in its expansion from equipment manufacturer to process solutions provider”, says Aaro Cantell, Chairman of Normet Group.

Normet Group is partnering with TAM International and will begin to sell construction chemicals to complement the company’s concrete spraying equipment. Normet will represent TAM products in areas where TAM is not yet active and, in return, TAM will act as agent and distributor of Normet equipment and services in the UK, Hong Kong, Taiwan and ASEAN.

Normet, strengthened by its 40% shareholding, will form a close working partnership with TAM and create a broader offering around the tunneling process. This will enable Normet to help its customers achieve improved quality and more cost effective results.

Normet is a global market leader in underground tunneling and concrete spraying, while TAM International is a rapidly expanding construction chemicals manufacturer and distributor.

Normet Chairman Aaro Cantell explained that “the addition of underground construction chemicals to Normet’s range of mechanised underground equipment is a logical step in our path to becoming the world’s leading expert in selected underground construction processes such as concrete spraying”.

“We have had great results with TAM from our recent co-operation in Hong Kong and Taiwan. This partnership will strengthen Normet's position in underground construction and mining”, confirms Tom Melbye, COO Normet Group and Managing Director of Normet International Ltd.

Victor Bellanti, CEO of Norman Hay plc comments: “This is a strategic alliance which will considerably strengthen both companies. The partnership will bring together the consumable construction chemicals of TAM with the international manufacture and distribution of Normet’s application hardware. Both companies share a common global marketplace in construction solutions for waterproofing, injection and repair of structures together with major constructions projects in civil engineering, tunneling and mining”.

Normet Group For over 40 years Normet has developed manufactured and marketed equipment and vehicles for mining and underground construction. In addition the company provides a comprehensive range of Life Time Care services e.g. maintenance, service programs, spare parts and training for their equipment and associated processes. Normet's head office is in Iisalmi, Finland, and manufacturing is located both in Iisalmi and Santiago de Chile. Sales, marketing and product offering development are headed by Normet International Ltd in Switzerland. Normet employs over 450 business professionals in 23 locations worldwide. Turnover in 2009 totaled above EUR 90 million.

TAM International Founded in 1982, TAM are leaders 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 70 employees worldwide and is owned by Norman Hay plc in partnership with Martin Robbins, TAM International’s CEO. TAM has manufacturing and sales operations in Australia, UK and Taiwan along with sales and marketing operations in Singapore, Hong Kong, Indonesia, Europe and the Middle East. Turnover in 2009 was approximately EUR 9 million. For further information please contact:

Tom Melbye, COO Normet Group and Managing Director of Normet International Ltd, tel direct: +41(0)41 768 5201 mobile: +41 (0)79 449 8555, e-mail: [email protected]

Aaro Cantell, Chairman of Normet Group, mobile: +358 (0)400 706 072 e-mail: [email protected]

Vic Bellanti, CEO Norman Hay plc, tel: +44 2476 229 373 mobile: +44 7774 419 373 e-mail: [email protected]