FLSmidth recently signed an agreement to acquire the assets of the privately owned company Knelson, a Canada-based corporate partnership which is active within the minerals industries. Knelson develops, manufactures and installs equipment for the recovery of precious metals as well as the enhanced gravity separation of base metals and industrial minerals with more than 3,000 installations in more than 70 countries worldwide. The company holds a number of patents that have helped it to achieve a leading market position in the gravity separation of gold from mined ore. The activities are mainly handled out of its headquarters in Langley, B.C., Canada.
The purchase includes Knelson’s polyurethane company Progressive Urethane Manufacturers, which FLSmidth says will be a valuable addition to wear parts supply chain, and Knelson’s fine grinding product business, Knelson Milling Solutions.
“The acquisition of Knelson strengthens FLSmidth’s offerings especially in the precious metals processing segment and supports our ability to serve all the customers’ needs for process technology, process know-how and complete integrated solutions,” said Group CEO Jørgen Huno Rasmussen.
A letter of intent has also been entered into to purchase the assets of Knelson’s operations in Russia. Dependent on governmental approval to acquire the assets, this portion of the transaction is expected to close within the next 90 days.