FLSmidth acquiring thyssenkrupp mining business

FLSmidth came to an agreement with thyssenkrupp Industrial Solutions to acquire TK Mining, thyssenkrupp’s mining business.

TK Mining supplies mining systems, material handling equipment and offers mineral processing and services.

FLSmidth expects the deal to close in the second half of 2022 following customary approvals from regulatory authorities.

“TK Mining and FLSmidth are a perfect match, and I am proud to announce this agreement to join forces,” says Thomas Schulz, group CEO of FLSmidth. “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. Our complementary customer base and improved geographic coverage will offer a strong value proposition to our customers.”

Martina Merz, group CEO of thyssenkrupp, weighed in on the deal, as well.

“FLSmidth is an excellent owner and a very good new home for our mining activities,” Merz says. “The companies have a strong cultural fit and are a good match. The business models are comparable [and] the technologies complement each other well. The result is a world-leading technology provider from pit to plant.”