Tuesday, September 20, 2011

Mining: FL Smidth to buy Knelson, Exchange vowels, Drop Consonants

Back in the day I would rate Smidth just a bit lower than the competition because of the "d".
From Reuters via MineWeb:

FLSmidth to buy Knelson
The Danish firm said it would buy the Canadian, family-owned equipment maker for an undisclosed sum in an effort to expand its precious metals processing business

Danish engineering group FLSmidth agreed to acquire Canadian family-owned equipment maker Knelson for an undisclosed sum to expand its range in the precious metals processing business.

Knelson makes equipment for recovering precious metals such as gold, platinum and silver, as well as for gravity separation of base metals and industrial minerals, FLSmidth & Co A/S said.

Based in British Columbia, Knelson employs around 140 people, said FLSmidth, adding: "the customer base comprises all the major gold, platinum and silver mining companies.

FLSmidth Chief Executive Jorgen Huno Rasmussen said the parties to the deal had agreed not to disclose the price...MORE.