MONTREAL – GROUPE LAPERRIERE & VERREAULT (GL&V) has agreed to sell its mineral processing division to Danish company FLSMIDTH for a reported $950 million. The deal includes the Dorr-Oliver Eimco line of flotation equipment and the Krebs line of cyclones.
GL&V is also spinning off its water treatment, pulp and paper, and manufacturing groups into a new company to be listed on the TSX Exchange. The deal is to close by the end of July 2007 if 75% of GL&Vs shareholders approve. The new company will feature GL&Vs current management.
FLSmidth has marketed its minerals business under the name FFE MINERALS, but with the acquisition of the two new lines, says it will use the name FLSMIDTH MINERALS. See also www.FLSmidth.com.