FLSmidth of Denmark has agreed to sell Densit A/S to Illinois Tool Works Inc.
FLSmidth wants to refocus its operations on Cement and Minerals. Densit was one of the Group’s final remaining non-core units.
Densit employs 68 people, and its turnover in 2006 amounted to DKK 144m (EUR 19m/US$27 million). Densit produces cement-based special-purpose materials used in the security industry, for wear protection, for industrial flooring and for reinforcement of offshore drilling rigs and offshore wind turbine foundations. The company also produces wear-resistant components for the cement and power-generating industries.
ITW, a $14 billion diversified manufacturer, produces engineered fasteners and components, equipment and consumables as well as specialty products. It has more than 750 business units in 49 countries, including Denmark.