Langley, British Columbia Canada September 20, 2011
FLSmidth has today
signed an agreement to acquire the assets of the privately owned company
Knelson, a Canada based corporate partnership which is active within
the minerals industries.
develops, manufactures, and installs equipment for the recovery of
precious metals such as gold, platinum and silver, as well as the
enhanced gravity separation of base metals and industrial minerals with
over 3000 installations in over 70 countries worldwide. The customer
base comprises all the major gold, platinum and silver mining
is a world leader in the development, design, manufacturing and supply
of gravity concentration technology for the global mining and minerals
processing industries. The company holds a number of patents that have
helped it to achieve the leading market position in the gravity
separation of gold from mined ore. The activities are mainly handled out
of their headquarters in Langley, British Columbia, Canada.
purchase includes Knelson's polyurethane company Progressive Urethane
Manufacturers Inc., which will be a valuable addition to FLSmidth's wear
parts supply chain, and Knelson's fine grinding product business,
Knelson Milling Solutions.
acquisition of Knelson strengthens FLSmidth's offerings especially in
the precious metals processing segment and supports our ability to serve
all the customers' needs for process technology, process know-how and
complete integrated solutions", Group CEO Jørgen Huno Rasmussen says.
company was founded by Byron Knelson in 1978. The company today employs
around 140 people with son, Brett Knelson, and son-in-law, Doug Corsan,
continuing to operate and manage the family-owned company after Byron's
retirement in 2000.
letter of intent has also been entered into to purchase the assets of
Knelson's operations in Russia. Dependent on governmental approval to
acquire the assets, this portion of the transaction is expected to close
within the next 90 days.
address any questions regarding this announcement to Group Executive
Officer Jørgen Huno Rasmussen, FLSmidth & Co. A/S at +45 36 18 18