Nordic Business Report-July 4, 2006-FFE Minerals acquires US spare parts and services company Excel Foundry and Machine Inc
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The Danish cement and minerals technology group FLSmidth & Co A/S said on Tuesday (4 July) that its subsidiary FFE Minerals has acquired US company Excel Foundry and Machine Inc.
In connection with the deal FFE Minerals also acquired the outstanding 49% of the share capital of Excel Crusher Technologies LLC.
The combined purchase price amounted to USD30m.
Excel Foundry and Machine provides spare parts and services to the mining and aggregate industries. It has 150 employees and reported a turnover of USD23m in 2005.
Excel Crusher Technologies, in which FFE Minerals acquired a 51% holding in 2005, manufactures heavy-duty cone crushers.
One US dollar (USD) is worth approximately 0.56 British pounds (GBP).
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