FLSmidth to acquire Canadian company Knelson
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. Knelson 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 companies. 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.
The 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.
A 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 end of the year 2011.