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FLSmidth acquires world leading pressure filter technology

16.05.2008
Company Announcement to the Danish Financial Supervisory Authority No. 22-2008, 16 May 2008

FLSmidth has acquired the automatic pressure filter business of U.S. based Pneumapress Inc., a global leader in fully automatic pressure filtration and drying technology.
The transaction is valued at approximately USD 18 million (approx. DKK 87m), subject to certain conditions being met. Effective date of the acquisition is 15 May 2008.
 
Pneumapress designs, manufactures, markets and services a broad range of automatic pressure filters. From a privately held company founded in 1989 with a single module filter, the company has gained the reputation of an innovator with leading edge technology in pressure filtration and drying. Today's "state of the art" multi-module tower press has rapidly captured market share particularly in mineral slurries and specifically in iron ore applications where the filter is now considered the industry standard.
 
This unique technology applies pressurised air and gases versus the more conventional approach of vacuum and mechanical pressures. It can often reduce moisture to near 0% and in many cases can eliminate costly dryer installations. This technology along with proprietary filter media belts are protected by some 20 patents around the world.
 
Pneumapress, headquartered in Richmond, California, USA with assembly and testing facilities in Antioch, California, employs 25 people. Sales are expected to surpass USD 25 million in 2008 and will have a positive effect on the FLSmidth Group's earnings in 2008.
 
The acquisition of Pneumapress enables FLSmidth Minerals to continue to strengthen its global growth strategy. The acquired filter technology has potential applications in nearly every flowsheet where filtration is required. And with the footprint of FLSmidth, it will provide the resource to increase the market share to number one in minerals filtration.
 
"Combining Pneumapress with the recent acquisition of Dorr-Oliver Eimco and Krebs Engineers advances the position of FLSmidth Minerals as the global leader in liquid/solids solutions for the minerals industry. Pneumapress is the acquisition that completes our product and technology offerings, providing the industry - One Source One Partner," Group CEO Jørgen Huno Rasmussen says.
 
 
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Please address any questions regarding this announcement to Group Chief Executive Officer Jørgen Huno Rasmussen, 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