Bangkok--Dec 2--Image Impact
LV Technology PCL has entered into a Co-operation Agreement with FL Smidth A/S of Denmark with respect to product research and development activities for the cement industry. As part of the Co-operation Agreement, FL Smidth has reached an agreement with a group of core shareholders of L.V. Technology PCL to acquire from this group a total of approximately 15% of the shares in L.V. Technology PCL, which acquisition brings FL Smidth Group’s shareholding interest in L.V. Technology PCL close to 20%. L.V. Technology PCL’s management structure and composition remain unchanged.
L.V. Technology PCL and FL Smidth A/S had entered into a license agreement in 1999 to enable FL Smidth A/S to utilize L.V. Technology PCL’s innovations primarily in relation to the upgrading of cement mills, and this new Co-operation Agreement represents a further extension of the long-standing co-operation between the two parties; thus enhancing the total research and development capabilities of both companies.
FL Smidth A/S is the world’s leading supplier of equipment, know-how and turnkey project solutions in the global cement and mineral industries. The company was established in Denmark in 1882, and has been a major player in the world’s cement plant manufacturing industry for decades, and presently commands a global market share of approximately 30%.
The competencies of L.V. Technology PCL combined with the extensive know-how and industrial experience of FL Smidth A/S will provide a solid and innovative technical platform to cement producers worldwide.
For further information, please contact:
LV Technology PCL
Mr. Peter Kirketerp, Managing Director
Tel: +66 (0) 2717 0835 — 40 Ext. 444
Fax: +66 (0) 2717 0577
Or
Image Impact Ltd.
Onticha Rattanawannathip
Tel: +66 (0) 2253 6809 — 12 Ext. 115
Fax: +66 (0) 2253 6805 End.