Company Announcement to the Danish Financial Supervisory Authority No. 31-2011, 8 December 2011
FLSmidth has signed a contract worth approximately USD 50m (approximately DKK 270m) with BIS Industries Ltd., a company of Kohlberg Kravis Roberts & Co. (KKR), to supply material handling equipment to the iron ore mine owned by Gindalbie Metals Ltd some 200 km east of Geraldton, Western Australia.
The contract comprises an iron ore tailings stacking system including a RAHCO® mobile stacking system with a capacity of 2850 tonnes per hour. The technology which FLSmidth provides introduces a process that enables dewatered tailings material to be conveyed and stacked rather than pumped. This process allows the client to utilize a smaller footprint, decrease environmental exposure, re-use much of their process water and reduce operating costs.
"This material handling contract shows FLSmidth's dedication to its customers. By listening to the local environmental concerns faced by our client we have designed a solution that addresses these requirements and we are able to offer a state-of-the-art customer-focused-equipment solution. The contract with BIS Industries Limited signifies FLSmidth as a world leader within the stacking system technology and as a forerunner of the tailings stacking trend" Group CEO Jørgen Huno Rasmussen comments.
The order will contribute beneficially to FLSmidth's earnings until the end of 2012.
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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.
Best regards
Pernille Friis Andersen
Corporate Communications & Investor Relations