On 29 December 2020 FLSmidth entered into a definitive agreement to sell its Germany-based Möller business to French conglomerate REEL. REEL is an industrial group specialising in complex handling and lifting systems with annual sales of €400 million.
Möller, also known as FLSmidth Hamburg GmbH, is a specialist in design, supply, installation and service of pneumatic conveying systems. The company caters to the power and aluminium industries. All of Möller’s 60 employees will join the REEL family.
Möller, founded in 1934, was acquired by FLSmidth in 1996 with the intention of enhancing FLSmidth’s business in the power sector which is no longer a sector of focus for FLSmidth.
Carsten Riisberg Lund, FLSmidth’s Cement President, commented:
“The sale of Möller is part of an ongoing process aimed at reshaping FLSmidth’s Cement industry. Consistent with the corporate strategy we announced earlier this year, we are pursuing a more focused cement portfolio. The new owner has a strong focus on the aluminium and related sectors and is therefore a natural fit for Möller’s future.”
Terms of this transaction will remain confidential.
Read the article online at: https://www.worldcement.com/europe-cis/04012021/flsmidth-announces-the-sale-of-its-mller-pneumatic-conveying-systems-business-to-reel/