The planned acquisition announced on October 10th has now received clearance from the Austrian Competition Authority.
LKAB Minerals are now working on a completion date of the 3rd December, at which point LKAB Minerals will take full control of the Francis Flower.
Darren Wilson, CEO Europe for LKAB Minerals comments “This is a positive and exciting step towards strengthening the two companies. We are looking forward to welcoming Francis Flower into LKAB in the coming weeks.”
Further Acquisition Information
About Francis Flower
Francis Flower has been in operation since the 1950’s in the ownership of the Willmott family. With the acquisition of the company LKAB Minerals adds new products to its portfolio.
Ground Granulated Blast furnace Slag (GGBS) is produced by quenching molten iron slag (a by-product of iron and steel-making) from a blast furnace in water or steam. This creates a glassy, granular product that we then dry and ground into a fine powder. It replaces up to 70% of the Portland Cement in concrete, and can significantly reduce CO2-emissions. Francis Flower produces GGBS in Scunthorpe on the grounds of British Steel. LKAB is a significant supplier of highly upgraded iron ore products to British Steel; making the first deliveries in the 1930s. Francis Flower is the second largest supplier of GGBS in the UK.
Other products offered are Limestone Fillers for use in construction and agriculture. Anhydrite binders for flowing floor screeds under the brand name Gypsol. And other Anhydrite products for Industrial and Agricultural uses. A range of high performance Soil conditioners marketed under the brand name Calcifert. Dolomite and Marble powders are supplied to food, pharmaceutical, construction, polymer and coatings industries
About LKAB Minerals
LKAB Minerals is an international industrial minerals group with a leading position in a number of product applications. LKAB Minerals has sales representation, offices, production units and deposits in 11 countries in Europe, Asia and the US. They employ around 300 people. LKAB Minerals had a turnover of 251 MEURO in 2017. The company supplies more than 30 minerals. The core products are:
- MagnaDense, an iron ore aggregate, supplied to the construction and offshore industries
- MagnaChem supplied to water treatment
- Magnetite for Sponge Iron production
- UltraCarb, MicaFort and MagniF for polymers and coatings.
- In addition, Mineral Sands and numerous other minerals products are traded, processed and marketed.