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FLSmidth acquires IMP Automation Group

PRESS RELEASE

By taking over IMP Automation Group FLSmidth completes its portfolio of automated laboratory solutions for the mining industry.

The market for automated laboratories is growing due to a combination of high exploration activity and an increased focus on productivity, automation and digitalisation. IMP is the global leader in automated laboratory solutions for the mining industry and has a strong foothold in Australia and South Africa. Its solutions complement the products FLSmidth offers for quality control and optimisation for the mining process.

The acquisition includes +130 IMP employees, including the managing director, Boyne Hohenstein.

"In FLSmidth we have found a partner with the right global sales network to take us to the next level. For years, we have combined profound laboratory process knowledge with automation skills and developed novel and innovative solutions. I am very excited that we now can reach a global audience with our offerings and solutions", Boyne Hohenstein, managing director of IMP.

"Knowing your ore characteristics from the mine and all the way through the processing plant is of increasing importance in mining as declining ore grades make it necessary to increase productivity by process optimisation. We see a strong match between some of our digital initiatives in FLSmidth and IMP's automation solutions that will help miners get better data on their ore and assist in optimising the processing. With this acquisition, our flowsheet of laboratory solutions within mining and minerals processing is complete, and this will be of great value to our customers," says Manfred Schaffer, President Mining, FLSmidth.

Included in the transaction is IMP's 50% share in a Joint Venture ("JV"), which provides complete O&M based solutions for automated labs.
The acquired parts of IMP Automation Group including the JV, generated revenues in excess of DKK 250m in 2018. The JV will be accounted for with the equity method in FLSmidth accounts. The acquisition will be accretive to FLSmidth Group margins.

The acquisition is subject to customary closing conditions and closing is expected in Q2 2019. The parties have agreed not to disclose the terms of the transaction.

Contacts

FLSmidth
Media
Sofie Karen Lindberg, tel +45 30 93 18 77, [email protected]

Investors
Nicolai Mauritzen, tel +45 36 18 18 51, [email protected]

IMP Group
Dr Reg Bush, tel +61 400 916 131, [email protected]

FLSmidth delivers sustainable productivity to the global mining and cement industries. We deliver market-leading engineering, equipment and service solutions to our customers enabling them to improve performance, drive down costs and reduce environmental impact. Our operations span the globe and our 11,400 employees are present in more than 60 countries. In 2018, FLSmidth generated a revenue of DKK 18,8 billion. www.flsmidth.com

IMP Group is the global leader in automated laboratory solutions for the mining industry. Our innovative and ground-breaking technology improves accuracy of sample preparation and sample analysis, as well as laboratory efficiency. www.impgroup.com.au




This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FLSmidth via Globenewswire

Copyright © Thomson Reuters 2019. All rights reserved.
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