As part of its strategy to focus on core activities, FLS Industries has sold additional businesses and properties. The total sales price exceeds DKK 90m with a profit of approximately DKK 25m. (EBIT). This, however, does not affect the most recently announced earnings prospects for 2003.
Among the businesses divested are J.A. Plastindustri A/S and the activities of the Dutch sales company Handelmij Austria B.V., both formerly part of Dansk Eternit Holding which in turn is part of the core business area FLS Building Materials. The divestments also include the remaining activities of PM Energi, formerly owned by FLS company Pedershaab in Brønderslev in North Jutland, and the "Portlandmosen" marsh together with some neighbouring farms located in the Lille Vildmose marsh in North Jutland.
J.A. Plastindustri A/S has been sold to a consortium comprising the Company Management, Dansk Kapitalanlæg A/S and Erhvervsinvest Nord A/S. The disposal fits into Dansk Eternit Holding's strategy to focus on its core activity: fibre cement. J.A. Plastindustri manufactures plastic components for roof construction and ventilation. It employs some 60 people and has a turnover of DKK 40m.
Based on two management buy-outs Handelmij Austria B.V. has sold its import and sales activities related to doors, wooden flooring and plywood. Also this disposal fits into Dansk Eternit Holding's strategy to focus on its fibre cement core business.
Based on another management buy-out PM Energi A/S has sold its activities related to manufacture, modification and servicing of pumping units, engines and generator sets. Pedershaab, the parent company of PM Energi, will thus continue to focus on its core activity of manufacturing concrete pipe machinery.
The "Portlandmosen" marsh and neighbouring farms located in the Lille Vildmose marsh in North Jutland has been sold to the Aage V. Jensen Charity Foundation and local farmers. "Portlandmosen" and the neighbouring farms were acquired in the 1930s by the Aalborg Portland-Cement-Fabrik for the purpose of digging peat to fuel the cement kilns.
FLS Industries A/S
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