# FLSmidth completes sale of non-core material handling assets to KOCH Solutions

FLSmidth announced that all closing conditions for the sale of its Non-Core Activities material handling assets to KOCH Solutions have been met, with closing expected on 1 September 2023. The transaction includes intellectual property, order backlog, employees and facilities.

- Type: Acquisition
- Announced: 2023-08-23
- Where: Germany and Australia, Germany
- Status: completed
- Products: material handling assets
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [FLSmidth](https://endata.com/companies/4673.md)
- [FLSmidth](https://endata.com/companies/4673.md) (target)
- [Jiangsu Rainbow Heavy Industries](https://endata.com/companies/22581.md) (investor)
- [Koch Solutions](https://endata.com/companies/40564.md) (acquirer)

## Sources

- [fls.com](https://fls.com/en/announcements/2023/flsmidth-announces-fulfilment-of-the-closing-conditions-for-the-sale-of-non-core-activities-material-handling-assets-to-koch-solutions), 2023-08-23: "all conditions and requirements regarding the previously announced Asset Purchase & Transfer Agreement between FLSmidth and KOCH Solutions have been met."
- [majunke.com](https://majunke.com/mayland-beraet-koch-solutions-von-rainbow-heavy-industries-aus-china-beim-erwerb-eines-material-handling-geschaeftsbereiches-von-flsmidth-aus-daenemark), 2023-09-06: "Die Akquisition des Geschäftsbereichs durch KOCH Solutions umfasst neben dem Know-how, dem Auftragsbestand und den Produktionsstätten auch die Übernahme der zugehörigen Mitarbeiterinnen und Mitarbeiter."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.