FLSmidth to acquire Canadian company Knelson
(Thomson Reuters ONE) -
PRESS RELEASE
FLSmidth has today signed an agreement to acquire the assets of the privately
owned company Knelson, a Canada based corporate partnership which is active
within the minerals industries.
Knelson develops, manufactures, and installs equipment for the recovery of
precious metals such as gold, platinum and silver, as well as the enhanced
gravity separation of base metals and industrial minerals with over 3000
installations in over 70 countries worldwide. The customer base comprises all
the major gold, platinum and silver mining companies.
Knelson is a world leader in the development, design, manufacturing and supply
of gravity concentration technology for the global mining and minerals
processing industries. The company holds a number of patents that have helped it
to achieve the leading market position in the gravity separation of gold from
mined ore. The activities are mainly handled out of their headquarters in
Langley, British Columbia, Canada.
The purchase includes Knelson's polyurethane company Progressive Urethane
Manufacturers Inc., which will be a valuable addition to FLSmidth's wear parts
supply chain, and Knelson's fine grinding product business, Knelson Milling
Solutions.
"The acquisition of Knelson strengthens FLSmidth's offerings especially in the
precious metals processing segment and supports our ability to serve all the
customers' needs for process technology, process know-how and complete
integrated solutions", Group CEO Jørgen Huno Rasmussen says.
The company was founded by Byron Knelson in 1978. The company today employs
around 140 people with son, Brett Knelson, and son-in-law, Doug Corsan,
continuing to operate and manage the family-owned company after Byron's
retirement in 2000.
A letter of intent has also been entered into to purchase the assets of
Knelson's operations in Russia. Dependent on governmental approval to acquire
the assets, this portion of the transaction is expected to close within the next
90 days.
-------------------------------------
Please address any questions regarding this announcement to Group Executive
Officer Jørgen Huno Rasmussen, FLSmidth & Co. A/S at +45 36 18 18 00.
For further information about FLSmidth, please visit www.flsmidth.com.
Yours faithfully
Pernille Friis Andersen
Corporate Communications & Investor Relations
Link to PDF version:
http://hugin.info/2106/R/1548094/475711.pdf
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originality of the information contained therein.
Source: FLSmidth via Thomson Reuters ONE
[HUG#1548094]
Unternehmensinformation / Kurzprofil:
Datum: 20.09.2011 - 09:21 Uhr
Sprache: Deutsch
News-ID 67435
Anzahl Zeichen: 3338
contact information:
Town:
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