FMC Technologies announces intent to divest Its material handling business to Syntron
FMC Technologies announced today a definitive agreement to divest its material handling products business to Syntron Material Handling,an affiliate of Levine Leichtman Capital Partners Private Capital Solutions. This transaction, requiring customary regulatory approvals, is expected to be completed early in the second quarter.
The material handling business, part of FMC Technologies’ Energy Infrastructure segment, has a long history of providing bulk material handling solutions to industries worldwide. The business—which is headquartered in Tupelo, Mississippi, and has operations in Changshu, China and Salt Lake City, Utah, and sales personnel in Germany, Mexico, Singapore and Canada—manufactures a diversified product line of conveyor and vibratory equipment used to load, transport and feed bulk materials.
FMC Technologies will retain its engineering, procurement, and construction (EPC) systems business supplying material handling systems and equipment to various industries around the world. It is headquartered in Chalfont, Pennsylvania, and has a sales office in Santiago, Chile.