Solix Group AB agreed to acquire MAAG gears and drives business from FLSmidth & Co. A/S (CPSE:FLS) on January 22, 2024.This transaction includes all related assets, including intellectual property, technology, employees and customer contracts. The business has an average annual turnover of around DKK 400-500 million.

The transaction is expected to close during the first quarter of 2024.