FLSmidth A/S

PRESS RELEASE 2 February 2024, Copenhagen, Denmark

To support our CORE’26 Mining strategy and to fuel our long-term growth ambitions, we have established a dedicated business line for PCV, effective 1 February 2024. At the same time the responsibility for PCV will be elevated to Group Executive Management.

FLSmidth has a long-standing history within PCV and today holds a strong market position, especially with our core KREBS pumps portfolio. While this business has achieved good growth over the years, we have clear ambitions to strengthen our market position even further with PCV. Realising our full potential within PCV requires dedicated management attention, investments and an independent organisational setup.

To lead the new PCV Business Line, Pat Turner is appointed President. Pat has a long history at FLSmidth, having first joined the company in 1982. This includes having previously led the PCV business and significantly accelerated its growth. He also led the purchase of the millMAX pump line in 1999. In addition, Pat held various senior positions including leading the Mining Global Product Lines and President for our North American Region, the latter of which he held until 2022, where he left to pursue an opportunity outside FLSmidth.

“When we launched our CORE’26 strategy in early 2023, we called out PCV as a key strategic focus area. While our PCV business has delivered strong growth in recent years, it still holds significant untapped potential. Combined with what we believe are the best pumps in the market, I am fully convinced that we will deliver – or perhaps even exceed – our own ambitions for PCV in the long-term. And we could not ask for a better leader behind the steering wheel than Pat Turner, who has a deep understanding of the PCV business and market, and who I happily welcome back to FLSmidth”, comments Mikko Keto, Group CEO at FLSmidth.

Pat Turner comments: “I am very excited to return FLSmidth and to help unlock our full potential within PCV. Energy efficiency and productivity are two of the most important factors driving the mining industry, and I firmly believe that our market-leading PCV technologies offer a unique value proposition to our customers.”



Contacts:

Media Relations
Rasmus Windfeld, +45 40 44 60 60, [email protected]

Investor Relations
Jannick Lindegaard Denholt, +45 21 69 66 57, [email protected]
Andreas Escherich Holkjær, +45 24 85 03 84, [email protected]
Therese Möllevinge, +45 41 37 16 38, [email protected]

About FLSmidth
FLSmidth is a full flowsheet technology and service supplier to the global mining and cement industries. We enable our customers to improve performance, lower operating costs and reduce environmental impact. MissionZero is our sustainability ambition towards zero emissions in mining and cement by 2030. We work within fully validated Science-Based Targets, have a clear commitment to reducing the sustainability footprint of the global mining and cement industries and aim to become carbon neutral in our own operations by 2030. www.flsmidth.com.

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FLSmidth Press Release New PCV Business Line February 2024