On 22 December, 2020, FLSmidth has entered into an agreement to sell fabric filter technology, a non-core business of FLSmidth's advanced filter technology ("AFT"), to Simatek A/S ("Simatek"), a Denmark-based manufacturer of industrial filters.
The transaction has substantial benefits for both parties: (i) FLSmidth will retain its core AFT operations, which continue to be key in the delivery of FLSmidth's MissionZero strategy; while (ii) the acquisition will allow Simatek to gain scale, widen its product portfolio and enhance its filter technology.
As part of this transaction, FLSmidth and Simatek have entered into a cooperation agreement. Under this agreement, Simatek will supply FLSmidth with fabric filters. In turn, FLSmidth will become a supplier of filter bags and filter cages to Simatek.
The cooperation agreement will enable FLSmidth to enhance its MissionZero strategy by reaching more clients with core products that focus on reducing particle emissions.
Flemming Jensen, Head of Air Pollution Control at FLSmidth, commented:
"We believe Simatek is an ideal partner to receive our technology. By combining our bags and cages offering with Simatek's extended industrial filters portfolio, we have created a strong collaboration that will greatly benefit our MissionZero strategy and our customers' overall green agenda."
Terms of this transaction will remain confidential.
Contacts
Media Relations
Rasmus Windfeld, +45 40 44 60 60, rwin@flsmidth.com
Investor Relations
Nicolai Mauritzen, +45 30 93 18 51, nicm@flsmidth.com
FLSmidth delivers sustainable productivity to the global mining and cement industries. We deliver market-leading engineering, equipment and service solutions to our customers enabling them to improve performance, drive down costs and reduce environmental impact. With MissionZero, our 2030 ambition is to enable zero emission and zero waste
Attachment
- FLSmidth press release 23 December 2020 (https://ml-eu.globenewswire.com/Resource/Download/901acb22-7161-4d37-8271-167ec2c1d9c5)
