PRESS RELEASE
FLSmidth has acquired 100% of the shareholding in the Indian company Transweigh India Limited, a company in which FLSmidth has until now been a minority shareholder.
Transweigh India Limited is a supplier of gravimetric feeding equipment, mainly to the steel, iron and cement industries. The company also markets and sells FLSmidth Pfister's leading fuel feeder product range to the growing Indian market.
Transweigh also sells a large number of proprietary products such as belt weigh feeders, apron weigh feeders, apron feeders, loss in weight feeders, solid flow meters, bin weighing equipment and feeding electronics. The products are sold as standalone products but most often together with auxiliary equipment forming a complete feeding system with integrated material handling components.
The customer base consists of end consumers (cement producers, steel mills, sponge iron producers, power producers, etc.) and original equipment manufacturers (OEM) which serve the heavy industries mentioned above.
Transweigh operates mainly within India where it is one of the market leaders. Via this acquisition FLSmidth Pfister will strengthen its ability to provide a full scope of feeding equipment at a competitive price to the entire FLSmidth Group and the market in general.
"Transweigh has a very well equipped sales force and provides FLSmidth with direct access to the customers in the important Indian market. Transweigh is a long term partner of FLSmidth Pfister and holds valuable knowhow regarding feeding technology and material handling, which we can now also turn to good account outside India", Group CEO Jørgen Huno Rasmussen says.
Transweigh India Ltd was established in 1987 as a joint venture with Pfister, Germany, which was later acquired by FLSmidth. With head office and production facilities located in Mumbai, India, the company today employs around 300 people.
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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