FLSmidth makes offer for the acquisition of ESSA Australia
Company Announcement to the Danish Financial Supervisory Authority No. 35-2010, 5 December 2010
December 5, 2010 - FLSmidth has today announced an offer for the acquisition of the Australian listed company ESSA Australia Limited (ESSA). FLSmidth's offer corresponds to an enterprise value of approximately DKK 170m. The offer is unanimously recommended by the Board of Directors of ESSA, in the absence of a superior offer.
The acquisition is conditional on the acceptance of at least 90 percent of the shares in ESSA and other customary conditions.
ESSA is a world leading specialist in the design, manufacture, support and service of sampling and sample preparation equipment for the international minerals and mining industry.
ESSA is active in a number of market segments including the following: mineral sample preparation, laboratory equipment, industrial solids preparation, mineral sizing, metallurgical testing, run of mine sampling, replacement parts and maintenance, laboratory and sampling automation.
ESSA's head office and production facilities are located in Perth, Australia and the ESSA group has approximately 100 employees.
"The technology and employees will perfectly fit FLSmidth's sampling and laboratory technology and further strengthen the company's product portfolio in the minerals industry", Group CEO Jørgen Huno Rasmussen comments.
FLSmidth Bids for ESSA Australia
FLSmidth makes offer for the acquisition of ESSA Australia
Company Announcement to the Danish Financial Supervisory Authority No. 35-2010, 5 December 2010
December 5, 2010 - FLSmidth has today announced an offer for the acquisition of the Australian listed company ESSA Australia Limited (ESSA). FLSmidth's offer corresponds to an enterprise value of approximately DKK 170m. The offer is unanimously recommended by the Board of Directors of ESSA, in the absence of a superior offer.
The acquisition is conditional on the acceptance of at least 90 percent of the shares in ESSA and other customary conditions.
ESSA is a world leading specialist in the design, manufacture, support and service of sampling and sample preparation equipment for the international minerals and mining industry.
ESSA is active in a number of market segments including the following: mineral sample preparation, laboratory equipment, industrial solids preparation, mineral sizing, metallurgical testing, run of mine sampling, replacement parts and maintenance, laboratory and sampling automation.
ESSA's head office and production facilities are located in Perth, Australia and the ESSA group has approximately 100 employees.
"The technology and employees will perfectly fit FLSmidth's sampling and laboratory technology and further strengthen the company's product portfolio in the minerals industry", Group CEO Jørgen Huno Rasmussen comments.
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