Tetra Tech Inc. (TTEK - Free Report) made its first acquisition in Latin America of Metalica Consultores, S.A., an engineering firm of Santiago, Chile. Metalica offers consulting engineering services to mining and natural resources companies and has about 60 employees. The terms of the acquisition were not disclosed.
For several years, Tetra Tech has been providing its services to global mining clients in Chile and Latin America. With the addition of Metalica, the company has expanded its presence in the region while providing an opportunity to enter new Latin American markets.
During its existence of 20 years, Metalica has provided mine planning, feasibility studies, mine operations support, and industrial process engineering services in Chile and throughout Latin America. Tetra Tech’s Engineering and Consulting Services business segment will include Metalica.
Tetra Tech Inc. is a leading provider of consulting, engineering, program management, construction and technical services focusing on resource management and infrastructure. It serves clients by providing cost-effective and innovative solutions to fundamental needs for water, environmental and alternative energy services. It typically begins at the earliest stage of a project by applying science to problems and developing solutions tailored to clients' needs and resources. Its solutions may span the entire life cycle of the project and include applied science, research and technology, engineering, design, construction management, construction, operations and maintenance, and information technology. Major competitors of Tetra Tech are Arcadis NV (ARCAY.PK), Shaw Group Inc. and URS Corporation .
We currently maintain our Neutral rating on Tetra Tech Inc. with a Zacks #3 Rank (short-term Hold recommendation) over the next one-to-three months.