FLS miljø a/s has sold its power plant boiler activities to STF S.p.A., one of the main private Italian companies focused on the power market. The company, which is based in Magenta near Milan, is established in 1937 and owned by the Trifone family.
Included in the sale are not only the boiler activities of FLS miljø a/s but also related auxiliary power plant technologies, such as Air-Preheaters, Gas-Gas-Heaters, Low-NOx Burners and High Efficiency Classifiers.
A total of 44 employees will be transferred to STF S.p.A. The new owner will base its Danish activities in Valby, Denmark.
The sale of the boiler activities, effective 15 June 2002 and subject to the final settlement of certain items, is part of the FLS Group strategy to focus and concentrate its resources on the Group's core competencies.
The sale will have no effect on 2002 EBIT. FLS miljø's earnings before tax and the FLS shareholders' equity will be negatively affected by restructuring costs as announced previously.
FLS Industries A/S
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