FLS Industries has with effect from 1 October 2002 sold all the shares in its wholly-owned subsidiary Dansk Træemballage A/S to the Company Management.
Dansk Træemballage, with an annual turnover close to DKK 250m and a total workforce of some 265 people, has production facilities at Haastrup, Ribe and Brande in Denmark. The divestment is part of the FLS Industries strategy to focus its business on the core areas of F.L.Smidth Group and FLS Building Materials.
The sale of Dansk Træemballage will be reflected in FLS Industries' annual accounts as a DKK 70m loss in terms of EBT.
FLS Industries A/S
Corporate Public Relations
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