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FLSmidth sells its Advanced Filtration Technologies business to Micronics.
On 14 July 2023, FLSmidth Cement sold its Advanced Filtration Technologies (AFT) filter media business to Micronics, a leading global provider of industrial filtration solutions. The sale is effective immediately and includes all related assets, including intellectual property, technology, employees and customer contracts.
The divestment of the AFT business is part of FLSmidth Cement’s pure play strategy, which includes focusing the cement product portfolio on the core technologies required for the green transition in the cement industry.
“FLSmidth’s AFT filter media business has grown to become one of the leading manufacturers of industrial filter bags, serving clients worldwide in among other the cement, lime, minerals, metals and power industries. FLSmidth appreciates the talent, dedication and commitment to quality of the AFT team, and we are pleased to see this successful business transition to Micronics,” says Asger Lauritsen, President at FLSmidth Cement.
The acquisition will enable Micronics to expand its product portfolio and strengthen its offerings to existing customers. All employees currently working for the AFT business will join Micronics to ensure a smooth transition process for customers.
“I am excited to welcome AFT to the Micronics family of trusted industrial filtration brands. I look forward to working with our new colleagues in the USA, Europe and India as we bring together our combined talents, capabilities, technical expertise and process knowledge to better serve our valued global industrial filtration customers,” says Chris Cummins, President and CEO of the Micronics Engineered Filtration Group.
FY2023 financial guidance updated
The updated revenue guidance for Cement and Group reflects the transfer of customer contracts to Micronics as part of the transaction. As a result of a net gain of around DKK 100m from the divestment, Cement EBITA margin, Group adjusted EBITA margin and Group EBITA margin guidance for FY2023 is raised. The underlying operational performance of Cement is still expected to be in line with prior guidance.
Contacts:
Investor Relations
Jannick Lindegaard Denholt, +45 21 69 66 57, jli@flsmidth.com
Media Relations
Rasmus Windfeld, +45 40 44 60 60, rwin@flsmidth.com
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