LVT enters into co-operation agreement with FLS

LV Technology PCL has entered into a Co-operation Agreement with FL Smidth A/S of Denmark with respect to product research and development activities for the cement industry. As part of the Co-operation Agreement, FL Smidth has reached an agreement with a group of core shareholders of LV Technology PCL to acquire from this group which acquisition brings FL Smidth Group’s shareholding interest in LV Technology PCL close to 20 per cent. LV Technology PCL’s management structure and composition remain unchanged.

LV Technology PCL and FL Smidth A/S had entered into a license agreement in 1999 to enable FL Smidth A/S to utilize LV Technology PCL’s innovations primarily in relation to the upgrading of cement mills, and this new Co-operation Agreement represents a further extension of the long-standing co-operation between the two parties; thus enhancing the total research and development capabilities of both companies.