FLSmidth

FLSmidth & Co. A/S

Type	Publicly traded Aktieselskab
Traded as	Nasdaq Copenhagen: FLS
Industry	Construction, engineering
Founded	1882
Founder	Frederik Læssøe Smidth
Headquarters	Copenhagen, Denmark
Key people	Thomas Schulz (Group CEO), Vagn Sørensen (Chairman)
Products	Machinery, systems and services for the cement and mineral industries
Revenue	DKK 19.682 billion (end 2015)
Profit	DKK 0.425 billion (end 2015)
Total assets	DKK 24.362 billion (end 2015)
Total equity	DKK 7.982 billion (end 2015)
Number of employees	12,969 (end 2015)
Website	www.flsmidth.com

FLSmidth & Co. A/S is a global engineering company based in Copenhagen, Denmark. With almost 13,000 employees worldwide, it provides global cement and mineral industries with factories, machinery, services and know-how. FLSmidth is listed on NASDAQ OMX Nordic Copenhagen (the former ) in the C20 index and has offices in more than 50 countries worldwide.

FLSmidth and Co. A/S was founded in Copenhagen on 2 January 1882 by Frederik Læssøe Smidth. It was initially a consultancy business whose main focus was to purchase machinery and build small machines for local craftsmen. Within a few years the firm, called “Technical Bureau” at the time, specialised in machinery for the brick and tile industry. In 1887 two engineers, Poul Larsen and Alexander Foss, were made partners and the company name was changed to F.L.Smidth & Co. In 1887, the first FLSmidth cement plant was built near Limhamn in Sweden. The company grew and in 1890 the first international office opened in London. Offices in Paris, New York, Tokyo, Peking (Beijing) and other major cities followed. In 1957, F.L.Smidth machinery accounted for 40 percent of all cement production in the world.

Over the years, the company has expanded with non-core activities and in 1989 the entire FLSmidth Group consisted of some 125 companies within areas such as cement engineering, plastic, aerospace and cement building materials. Throughout the 1990s, product companies such as Pfister, Ventomatic and MAAG Gear were acquired.

In 1990, the Group acquired Fuller Company and established the F.L.Smidth-Fuller Engineering Group. Two minerals processing divisions, Fuller Mineral Processing and FLSmidth Mineral Processing, were set up in FLSmidth and Fuller. In 1997, the company was named FFE Minerals after merging the two separate minerals divisions into one single company.

In the beginning of the 21st century the Group began to continuously sell off non-core activities.

On 2 April 2007, FFE Minerals acquired Rahco International, Inc. In May 2007, FFE Minerals was renamed FLSmidth Minerals and on 10 August 2007, FLSmidth acquired GL&V Process, the largest acquisition the company has ever made enabling it to gain a strong foothold in the global copper industry.

In May and October 2008, FLSmidth acquired Pneumapress Inc.and Centry an engineering consultancy based in Utah, USA.