FLSmidth has acquired 100% of the shares in Canadian-based Farnell-Thompson Applied Technologies.
“The majority of Farnell-Thompson’s revenue and earnings are generated through the supply of mill engineering services, sale of new mills as well as of spare parts and other services to the company’s customer base, which consists of approximately 70 mills worldwide,” FLSmidth said. Prior to the acquisition Farnell-Thompson was a consulting partner providing these services to FLSmidth for many years. Consequently, a seamless integration of the new business and staff is anticipated.
“This acquisition is fully aligned with our Mining CORE’26 strategy, which includes targeting service growth through strategic investments and prioritization,” said FLSmidth group CEO Mikko Keto. “We have for long enjoyed the skills and competences of [Farnell-Thompson] as a dedicated business partner. By fully joining forces, we will further strengthen our market-leading position within milling and grinding.”
The terms of this transaction have not been disclosed. The transaction does not impact financial guidance for 2024, FLSmidth officials said.
