FLSmidth reported all conditions and requirements have been met for the acquisition by KOCH Solutions of some FLSmidth assets. The closing occurred on September 1.

The assets are a mix of intellectual property, order backlog, employees, and facilities that are part of FLSmidth’s Non-Core Activities segment.

With the development, FLSmidth anticipated a loss for the Non-Core Activities segment of roughly $142 million. FLSmidth will end its Non-Core Activities segment at around end of 2024. The transaction does not impact FLSmidth’s financial guidance for 2023.