FLSmidth to acquire thyssenkrupp Industrial Solutions mining business

FLSmidth to acquire thyssenkrupp Industrial Solutions mining business
30 July 2021

FLSmidth and thyssenkrupp Industrial Solutions have reached an agreement that FLSmidth will acquire thyssenkrupp’s mining business (TK Mining) for an enterprise value of EUR325m, or approximately DKK2.4bn, according to a company announcement by FLSmidth. TK Mining is a leading full-line supplier of solutions for mining systems, material handling, mineral processing and services, which is highly complementary to FLSmidth’s offering.

The acquisition is expected to create a leading global mining technology provider with operations from pit to plant, extending the strategic customer relationships with a complementary product offering and customer base as well as improved geographic coverage. “TK Mining’s extensive active installed base, together with FLSmidth’s strong existing service setup, will provide additional aftermarket opportunities, while the joint R&D capabilities and combined portfolio will enable accelerated innovation in digitalisation and MissionZero solutions,” said the statement.

The mining industry is characterised by sound fundamentals and a positive outlook, based on underinvestment over the past decade and increasing demand due to the clean energy transition. Throught the timing of this acquisition FLSmidth aims to capture enhanced value from the mining growth cycle underway.

Closing of the transaction is expected in the 2H22 and subject to the customary approvals from relevant authorities.

Published under Cement News