FLSmidth Cement Sells its MAAG Gears and Drives Business

On 22 January 2024, FLSmidth Cement sold its MAAG gears and drives business to the Swedish investment company, Solix Group AB. The transaction is expected to close during the first quarter of 2024 and includes all related assets, including intellectual property, technology, employees and customer contracts.

The divestment of the MAAG business is in line with FLSmidth Cement’s GREEN’26 strategy, which in combination with a greater strategic focus on the Service business includes focusing the product portfolio on the core technologies required for the green transition in the cement industry.

“The divestment is fully aligned with our ongoing transformation efforts and supports our GREEN’26 strategy. I would like to extent my gratitude to the dedicated employees in the MAAG business for their unwavering commitment to supplying high-quality solutions and services. I wish all the MAAG employees and Solix the very best going forward”, says Christopher Ashworth, President of FLSmidth Cement.

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