Falco opts to sell Lakefield

By the end of August, Falconbridge expects to close the sale of its Lakefield Research division though a management buyout.

Falconbridge President Frank Pickard says the company decided to sell the division in order to focus on its core nickel, copper, zinc and custom feed business.

“The senior management team leading this buyout has the experience and commitment to grow Lakefield Research into one of the premier metallurgical testing and research facilities in the world,” he says.

Lakefield Research President Lawrence Seeley and Vice-president Christopher Fleming are two of the senior executives involved in the management buyout.

Founded in 1941, Lakefield operates custom research facilities in Lakefield, Ont., and Santiago, Chile.