FLSmidth has signed an agreement to acquire the majority ownership of Roymec (Pty) Limited, located north of Johannesburg, South Africa. Roymec is an accredited contributor under South Africa’s Broad-Based Black Economic Empowerment (BBBEE) Act and is in line with the ownership requirements.
FLSmidth will acquire 74% of the company share capital for a total price of DKK 142m. The remaining 26% is held by Tamela Roymec SPV (Pty). Roymec’s revenue in 2009 was DKK 438m and the company’s earnings meet the FLSmidth Group’s general earnings requirements.