FLSmidth Acquires thyssenkrupp’s Mining Business

FLSmidth reported it will purchase thyssenkrupp’s mining business, tk Mining, for roughly $386 million. The development will create a leading global mining technology provider with operations from pit to plant, FLSmidth said.

“This is a truly transformational deal allowing us to accelerate our growth ambitions in mining by creating a stronger talent pool and one of the world’s largest and strongest suppliers to the mining industry,” FLSmidth CEO Thomas Schulz said.

“Our complementary customer base and improved geographic coverage will offer a strong value proposition to our customers.” TK Mining has an asset-light business model, operates in 24 countries, and has 3,400 employees. TK Mining said FLSmidth is an excellent owner and a good new home. “The merged new company will be able to drive innovation and digitalization even faster and will increasingly focus on sustainability and ways to reduce environmental footprint,” thyssenkrupp AG CEO Martina Merz said.

The acquisition is expected to close in the second half of 2022.

For more information: https://www.flsmidth.com/