FLSmidth to sell its fabric filter technology business to Danish manufacturer of industrial filters Simatek A/S as part of cooperation agreement

FLSmidth to sell its fabric filter technology business to Danish manufacturer of industrial filters Simatek A/S as part of cooperation agreement

(PRESS RELEASE) COPENHAGEN, 23-Dec-2020 — /EuropaWire/ — FLSmidth (CPH: FLS), a Danish multinational engineering company, has announced it signed an agreement with Simatek A/S, a Denmark-based manufacturer of industrial filters, for the sale of the fabric filter technology, a non-core business of FLSmidth’s advanced filter technology (“AFT”).

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 (water, energy) in cement production and mining. Our operations span the globe and our 11,000 employees are present in more than 60 countries. In 2019, FLSmidth generated revenue of DKK 20,6 billion.
www.flsmidth.com

SOURCE: FLSmidth