Company Announcement to the Danish Financial Supervisory Authority
No. 22-2008, 16 May 2008
FLSmidth has acquired the automatic pressure filter business of U.S.
based Pneumapress Inc., a global leader in fully automatic pressure
filtration and drying technology.
The transaction is valued at approximately USD 18 million (approx.
DKK 87m), subject to certain conditions being met. Effective date of
the acquisition is 15 May 2008.
Pneumapress designs, manufactures, markets and services a broad range
of automatic pressure filters. From a privately held company founded
in 1989 with a single module filter, the company has gained the
reputation of an innovator with leading edge technology in pressure
filtration and drying. Today's "state of the art" multi-module tower
press has rapidly captured market share particularly in mineral
slurries and specifically in iron ore applications where the filter
is now considered the industry standard.
This unique technology applies pressurised air and gases versus the
more conventional approach of vacuum and mechanical pressures. It can
often reduce moisture to near 0% and in many cases can eliminate
costly dryer installations. This technology along with proprietary
filter media belts are protected by some 20 patents around the world.
Pneumapress, headquartered in Richmond, California, USA with assembly
and testing facilities in Antioch, California, employs 25 people.
Sales are expected to surpass USD 25 million in 2008 and will have a
positive effect on the FLSmidth Group's earnings in 2008.
The acquisition of Pneumapress enables FLSmidth Minerals to continue
to strengthen its global growth strategy. The acquired filter
technology has potential applications in nearly every flowsheet where
filtration is required. And with the footprint of FLSmidth, it will
provide the resource to increase the market share to number one in
minerals filtration."Combining Pneumapress with the recent acquisition of Dorr-Oliver
Eimco and Krebs Engineers advances the position of FLSmidth Minerals
as the global leader in liquid/solids solutions for the minerals
industry. Pneumapress is the acquisition that completes our product
and technology offerings, providing the industry - One Source One
Partner," Group CEO Jørgen Huno Rasmussen says.
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Please address any questions regarding this announcement to Group
Chief 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
