FLSmidth Acquires Conveyor Engineering

COPENHAGEN—Danish engineering group FLSmidth has acquired material handling systems supply and designer Conveyor Engineering in a stock deal.

According to a Reuters report, the purchase price will depend on the earnings performance of Conveyor Engineering in the coming years.

Conveyor Engineering, a U.S.-based company, specializes in the design and supply of major bulk material handling systems for cement, mining and heavy industrial facilities, and had a turnover of approximately $50 million last year, FLS said in press release.