FLSmidth Cement closed the sale of its MAAG gears and drives business to the Swedish investment company, Solix Group AB.
The deal, which was first announced on Jan. 22, includes all related assets, including intellectual property, technology, employees and customer contracts.
“The divestment is fully aligned with our ongoing transformation efforts and supports our GREEN’26 strategy. I would like to extend my gratitude to the dedicated employees in the MAAG business for their unwavering commitment to supplying high-quality solutions and services. I wish all the MAAG employees and Solix the very best going forward,” said Christopher Ashworth, FLSmidth Cement president.
The MAAG product range includes a wide range of industrial gear solutions for all types of mills and kilns, gear solutions for bucket-wheel excavators and belt conveyors as well as many other heavy-duty applications used in the cement, mining and other industries.
The transaction does not change FLSmidth’s previously announced financial guidance for the full year 2023.
