FLSmidth to sell non-core Ludowici assets
FLSmidth has divested the non-core activities gained through its recent acquisition of Ludowici. The sale of the Industrial and Infrastructure business areas, which consist of Water, Seals, Industrial Rubber and Engineered Rubber, will be effective on 31 January 2013. The sales are indicative of the company’s focus on its six core industries.
“This divestment of non-core activities is part of the ongoing integration of Ludowici, and after this, no further Ludowici activities will be sold off. For FLSmidth, 2012 has been a year of transformation and expansion. In 2013, the main focus will be on execution and consolidation,” said Group CEO Jørgen Huno Rasmussen.
The acquisition of Australian firm, Ludowici, forms part of FLSmidth’s aim of improving and expanding its mineral and customer service offerings in the region. The company increased its share price offering following a competing bid from Weir PLC.
Adapted from press release by Louise Fordham.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/14012013/cement_flsmidth_australia_ludowici_sale_828/
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