PRESS RELEASE
FLSmidth has signed a share purchase agreement to acquire 100% shareholding in Darimec S.r.L., an Italian company that designs and manufactures girth gears, pinions and custom made reducers mainly for the cement and minerals industries.
Darimec is a highly specialised gear manufacturer and has sold more than 1100 girth gears worldwide. Its product range includes kiln and mill girth gears, pinions of all kinds, special reducers, kiln rollers and tyres, overhaul, rebuilding and re-engineering of existing gearboxes, and services for the cement and minerals industries.
The share purchase agreement and the subsequent acquisition of Darimec S.r.L. complements and supports the business of FLSmidth MAAG Gear, the FLSmidth product company which is successfully expanding globally in the cement and minerals industries. Being part of the worldwide FLSmidth Group with its strong position in the cement and minerals industries, will enable FLSmidth MAAG Gear and Darimec S.r.L to considerably grow their activities in the global markets.
"We are continuing to develop our core product base for the cement and minerals industries. The acquisition of Darimec S.r.L. will complement the flow sheet and expand the footprint of FLSmidth MAAG Gear, enabling us to supply in-house manufactured drive solutions for the cement and minerals industries. This agreement also supports our increased focus on services and spare parts, enabling us to supply replacement drive solutions worldwide," Group CEO Jørgen Huno Rasmussen comments.
Darimec S.r.L was founded by the Italian entrepreneur Mario Dagnoni in 1961 under the name "Dagnoni Riduttori Meccanici" from which its present name "Darimec" derives.
Darimec has a manufacturing facility in Segrate, Italy close to Milan, and employs 34 highly skilled people.
-------------------------------------
Please address any questions regarding this announcement to Group Executive VP Bjarne Moltke Hansen, FLSmidth & Co. A/S at +45 36 18 18 00.
For further information about FLSmidth, please visit www.flsmidth.com.
Yours faithfully
Pernille Friis Andersen
Corporate Communications & Investor Relations