FLSmidth Cement sells its MAAG gears and drives business to Solix
22 Gennaio 2024 - 11:52PM
FLSmidth Cement sells its MAAG gears and drives business to Solix
PRESS RELEASE 22 January 2024, Copenhagen,
Denmark
On 22 January 2024, FLSmidth Cement sold its MAAG gears
and drives business to the Swedish investment company, Solix Group
AB. The transaction is expected to close during the first quarter
of 2024 and includes all related assets, including intellectual
property, technology, employees and customer
contracts.
The divestment of the MAAG business is in line with FLSmidth
Cement’s GREEN’26 strategy, which in combination with a greater
strategic focus on the Service business includes focusing the
product portfolio on the core technologies required for the green
transition in the cement industry.
The MAAG product range includes a wide range of industrial gear
solutions for all types of mills and kilns, gear solutions for
bucket-wheel excavators and belt conveyors as well as many other
heavy-duty applications used in the cement, mining and other
industries. The business has an average annual turnover of around
DKK 400-500m.
“The divestment is fully aligned with our ongoing transformation
efforts and supports our GREEN’26 strategy. I would like to extent
my gratitude to the dedicated employees in the MAAG business for
their unwavering commitment to supplying high-quality solutions and
services. I wish all the MAAG employees and Solix the very best
going forward”, says Christopher Ashworth, President of FLSmidth
Cement.
FLSmidth expects to realise a small net gain from the divestment
of the MAAG business which will be recognised in the first quarter
of 2024.
The transaction does not change FLSmidth’s previously announced
financial guidance for the full year 2023 (ref. Company
Announcement no. 17-2023).
Contacts:
Media RelationsRasmus Windfeld, +45 40 44 60
60, rwin@flsmidth.com
Investor RelationsJannick Lindegaard Denholt,
+45 21 69 66 57, jli@flsmidth.comAndreas Escherich Holkjær, +45 24
85 03 84, andh@flsmidth.com
About FLSmidthFLSmidth is a full flowsheet
technology and service supplier to the global mining and cement
industries. We enable our customers to improve performance, lower
operating costs and reduce environmental impact. MissionZero is our
sustainability ambition towards zero emissions in mining and cement
by 2030. We work within fully validated Science-Based Targets, have
a clear commitment to reducing the sustainability footprint of the
global mining and cement industries and aim to become carbon
neutral in our own operations by 2030. www.flsmidth.com.
- FLSmidth Press Release on MAAG divestment January 2024
Grafico Azioni FL Smidth and Co AS (TG:F6O1)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni FL Smidth and Co AS (TG:F6O1)
Storico
Da Giu 2023 a Giu 2024