Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
FLSmidth, a global engineering company out of Denmark, is planning a A$267 million acquisition of Ludowici Limited, an Brisbane-based company that manufactures coal centrifuges, vibrating screens and complementary wear resistant products.
Ludowici operates in Australia, South Africa, India, China, Chile, Peru and the US. The company employs approximately 1,000 people globally and is listed on the Australian Securities Exchange.
“Ludowici Investments Pty Limited and Julian Ludowici and the other Ludowici Directors, who together control approximately 22% of the outstanding shares of Ludowici, have confirmed that, in the absence of a superior proposal, they will support the scheme and, if a Scheme Implementation Agreement is signed, they will vote their shares in favour of the proposed transaction,” said FLSmidth in a statement.
The Ludowici purchase will help cement FLSmidth’s push into Australia, as well as added depth to its portfolio of services in the mining industry.
“It is FLSmidth’s strategy to become a market leader in every major minerals processing segment of which coal, copper and iron ore are three of the prioritised segments,” said FLSmidth in a statement.
FLSmidth is a leading supplier of equipment and services to the global cement and minerals industries. It has about 12,000 employees worldwide and had EUR2.71 billion in revenue in 2010.
Comments
Francis Chishimba
I did not know this company was so much big,they are also in zambia carrying out mentaince works at konkola copper mines – Francis