On 29 December, 2020, FLSmidth entered right into a definitive settlement to promote its Germany-based Möller enterprise to French conglomerate REEL. REEL is an industrial group specialising in advanced dealing with and lifting techniques with annual gross sales of €400m.
Möller, also referred to as FLSmidth Hamburg GmbH, is a specialist in design, provide, set up and repair of pneumatic conveying techniques. The corporate caters to the ability and aluminium industries. All of Möller’s 60 staff will be a part of the REEL household.
Möller, based in 1934, was acquired by FLSmidth in 1996 with the intention of enhancing FLSmidth’s enterprise within the energy sector which is now not a sector of focus for FLSmidth.
Carsten Riisberg Lund, FLSmidth’s Cement President, commented:
“The sale of Möller is a part of an ongoing course of aimed toward reshaping FLSmidth’s Cement business. In keeping with the company technique we introduced earlier this yr, we’re pursuing a extra targeted Cement portfolio. The brand new proprietor has a powerful give attention to the aluminium and associated sectors and is subsequently a pure match for Möller’s future.”
Phrases of this transaction will stay confidential.
Rasmus Windfeld, +45 40 44 60 60, email@example.com
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FLSmidth delivers sustainable productiveness to the worldwide mining and cement industries. We ship market-leading engineering, tools and repair options to our clients enabling them to enhance efficiency, drive down prices and scale back environmental influence. With MissionZero, our 2030 ambition is to allow zero emission and nil waste (water, power) in cement manufacturing and mining. Our operations span the globe and our 11,000 staff are current in additional than 60 international locations. In 2019, FLSmidth generated income of DKK 20.6 billion.