FLSmidth acquisition of Australian Ludowici now closed

7451 FLSmidth's board of directors and group executive management say that following the approval by Ludowici's shareholders and the necessary regulatory and court approvals, FLSmidth's acquisition of the Australian engineering and equipment supply company Ludowici has been completed today.

Ludowici provides coal centrifuges, vibrating screens and complementary wear resistant products and services for the minerals industries.

Headquartered in Brisbane, Australia, and with some 450 of its about 1,100 employees, and approximately 65% of its revenue being generated in Australia, the acquisition of Ludowici will significantly expand FLSmidth's presence in this important mining region. Furthermore, the acquisition will support FLSmidth's aspiration to expand its customer services offering as approximately 60% of Ludowici's revenue is related to services activities, spare parts and consumables.

It is FLSmidth's strategy to become a market leader in six focus industries; coal, iron ore, fertiliser minerals, copper, gold and cement. The acquisition of Ludowici will allow FLSmidth to substantially complete its coal processing flow sheet and complement its copper and iron ore processing offerings with leading technologies and brands.