|Deal value:||EUR 647 million|
FLSmidth is a leading supplier of equipment and services to the global cement and minerals industries employing more than 10,500 people in more than 40 countries world-wide. FLSmidth supplies everything from single machinery to complete cement plants and minerals processing facilities including services before, during and after the construction. FLSmidth is listed on the NASDAQ OMX Copenhagen Stock Exchange.
GL&V Process Division is among the world's leading providers of separation technology for the metal and minerals industries. Comprised primarily of the companies Dorr-Oliver Eimco and Krebs International, GL&V Process Division employs some 1,000 people and posted a turnover of approx. DKK 2.6 billion for the financial year ended 31 March 2007.
The acquisition of GL&V Process Division, which is the largest acquisition ever by FLSmidth, will grow the Group’s mineral activities to the same magnitude and strength as its cement business. Following the acquisition FLSmidth Minerals will be able to offer the market complete solutions covering the entire process from minerals extraction to the final end product. FLSmidth Minerals' existing competencies have primarily been in crushing, grinding, materials handling and pyro technology, while Dorr-Oliver Eimco and Krebs Engineers have their primary competencies in the downstream separation processes. Their joining of forces will provide a strong presence in all the relevant markets worldwide and make them a global market leader in crushers, mills, hydrocyclones, flotation, sedimentation, materials handling and calcination for the minerals industry. In two to three years, the yearly synergies are expected to amount to DKK 200m in EBIT terms.
The acquisition is FLSmidth's largest ever.