Two mineral processing businesses embedded in the British Steel supply chain will complete their integration following a buy-out next month.
Swedish-owned LKAB Minerals acquired the 海角视频 family business Francis Flower in December in an undisclosed deal.
From September 1 they will trade as a single entity - LKAB Minerals Ltd.
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Agreed in October 2018, the buy-out was given international clearance in November.
Both have a strong presence in northern Lincolnshire, with LKAB’s main 海角视频 operations at Flixborough and Francis Flower’s largest production stream embedded within the steelworks.
The latter business was founded in the Fifties, and is a leading provider of ground granulated blast furnace slag, which is produced in Scunthorpe as a cement substitute for concrete, bringing CO2 emission-reducing qualities from the steel-making by-product.
Headquartered in Somerset, it bought the Scunthorpe site, which sits close to Brigg Road on the sprawling steelworks, from Hanson Cement in 2015.
It brings sales of £70 million to the £210 million LKAB portfolio, as well as a team of 130 people across four sites in Scunthorpe, North Lincolnshire; Wicken, Cambridgeshire; Gurney Slade, Somerset and Runcorn, Cheshire alongside the 160 employed by LKAB.
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Darren Wilson, European chief executive for LKAB, said: “This is an important move for LKAB Minerals in our ambition to grow the industrial minerals business over the coming years. Francis Flower is a perfect fit, complimenting both companies’ existing businesses.”
Chairman and chief executive Adrian Willmott stepped down when the deal was signed, working in a consultative capacity for the integration phase.
He said: “LKAB Minerals are in a unique position to further develop Francis Flower across all its product lines. I have the utmost confidence that they will do so using the same core values we have adopted with our customers, suppliers and employees throughout our history. There is no doubt that LKAB Minerals’ links to its parent’s iron ore business will present much opportunity to Francis Flower in its next chapter.
As part of the move Gurney Slade Lime & Stone Company Ltd, Francis Flower (Northern) Ltd and the Fertilizer Company Ltd will all become LKAB Minerals Ltd, with a headquarters in Derby.