January 4, 2021
FLSmidth entered into a definitive agreement to sell its Germany-based Möller business to French conglomerate REEL, an industrial group specializing in complex handling and lifting systems.
Also known as FLSmidth Hamburg GmbH, Möller is a specialist in design, supply, installation, and service of pneumatic conveying systems. The company caters to the power and aluminum industries. All of Möller’s 60 employees will join the REEL family.
Founded in 1934, Möller was acquired by FLSmidth in 1996 with the intention of enhancing FLSmidth’s business in the power sector, which is no longer a sector of focus.
“The sale of Möller is part of an ongoing process aimed at reshaping FLSmidth’s cement industry,” said Carsten Riisberg Lund, FLSmidth’s cement president. “Consistent with the corporate strategy we announced earlier this year, we are pursuing a more focused cement portfolio. The new owner has a strong focus on the aluminum and related sectors and is therefore a natural fit for Möller’s future.”
Terms of this transaction are confidential.
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