TK MIning SpreaderFLSmidth will acquire thyssenkrupp’s Mining business in a transaction valued at EUR325 million ($386 million), which is expected to be completed in the second half of 2022 and is subject to certain conditions. thyssenkrupp is a leading supplier of mining systems, mineral processing, material handling and services, which FLSmidth said complements its equipment and services. The combined product line will provide a complete pit-to-plant range of technology, equipment and service expertise, as well as digital solutions, covering continuous mining, mineral processing, mining systems and material handling, according to FLSmidth.

The acquisition will also expand FLSmidth’s customer base, which the company believes will allow for a more robust customer approach in aftermarket services, as well as creating strong strategic opportunities as far as technical innovation and investments in research and development and digitalization.

Both companies share a common belief in bringing sustainable technology to the market to increase customer productivity and profitability. thyssenkrupp’s mining offering is an ideal fit with FLSmidth’s MissionZero sustainability ambition and with its digitalization agenda, explained FLSmidth Group CEO Thomas Schulz. He said the acquisition will place FLSmidth in an even better position to meet customer needs in these key areas.

“This is a truly transformational deal allowing us to accelerate our growth ambitions by creating one of the world’s largest and strongest suppliers to the mining industry,” Schulz said. “This acquisition will offer a strong value proposition for our customers.”