FLSmidth CEO says mid-size acquisitions possible

COPENHAGEN: Danish engineer FLSmidth is looking at more acquisitions after announcing a Canadian purchase on Tuesday and mid-sized deals are possible, but not as big as its C$983 million ($991.4 million) acquisition in 2007 of GL&V Process, its chief executive said.

CEO Jorgen Huno Rasmussen declined to say how much FLSmidth had agreed to pay for Canadian privately owned Knelson but he said the deal was roughly the same size as recent acquisitions in Australia and South Africa.

Those deals were worth 142 million Danish crowns ($25.9 million) and 170 million crowns.

Rasmussen told Reuters that he expected the Russian portion of the Knelson deal also to fall into place but that it was not crucial.

Copyright Reuters, 2011