Fluor Corporation has acquired FLSmidth’s overland conveyor products group for an undisclosed sum.
The American engineering firm said its Virta subsidiary would house the former thyssenkrupp’s mining conveyor assets, adding to the RAHCO Mobile Stacking Conveyor (MSC) business acquired from FLS earlier this year.
“The overland conveyor system market is poised for substantial growth in the coming years,” Virta president Leo Kaid said.
“The expanded offering enables Virta to deliver technologically advanced solutions in bulk material handling, complementing our existing product range and positioning Virta as a global leader in comprehensive material handling solutions.”
Fluor said the latest “small acquisition … significantly enhances Virta’s core capabilities and brand presence, introducing heavy-duty overland conveyors and Rail-Running Conveyors to our portfolio”.
It said overland conveyors delivered substantial capital efficiency by significantly reducing operating expenses compared to the trucking of bulk materials, cutting fossil fuel use and minimising dust emissions.
“The mining sector is witnessing rising demand for overland conveyors, driven by the expansion of existing operations and the need to transport ore over extended distances and across challenging terrain,” Fluor said.
New York Stock Exchange-listed Fluor turned over US$16.3 billion last year. Its current market value is about $6.6 billion.
