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FLSmidth to acquire thyssenkrupp’s Mining business

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Dry Bulk,

FLSmidth A/S and thyssenkrupp AG have reached an agreement whereby FLSmidth will acquire thyssenkrupp’s Mining business. Completion of the transaction is expected in the second half of 2022 and is subject to merger control clearance and closing.

thyssenkrupp is a leading full-line supplier of solutions for mining systems, mineral processing, material handling and services, which is highly complementary to FLSmidth’s mining offering. The combined full-line coverage of FLSmidth and thyssenkrupp’s Mining business will include complete pit-to-plant range of technology, equipment and service expertise, as well as best-in-class digital solutions, covering continuous mining, mineral processing, mining systems and material handling.

The acquisition will also expand the installed base and customer base, increasing the company’s competencies to serve its customers across multiple technologies. This will allow for a more robust customer approach in service and aftermarket, as well as for the creation of strong strategic opportunities and the enhancing of resources and investment in R&D, digital, and innovation. This will result in shorter time to market for new innovations and technologies, for instance.

Both companies also share a common belief in bringing sustainable technology to the market in order to increase customer productivity and profitability. thyssenkrupp’s mining offering is an ideal fit with FLSmidth’s Mission-Zero sustainability ambition and with our digitalisation agenda. This acquisition will place FLSmidth in an even better position to meet customer needs in these key areas.

Thomas Schulz, Group CEO of FLSmidth, said: “The thyssenkrupp Mining business and FLSmidth are a perfect match, and I am proud to announce this agreement to join forces. 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. This acquisition will offer a strong value proposition for our customers, and there is a significant opportunity in transforming thyssenkrupp’s Mining business towards FLSmidth’s business mix and model with more than 50% service business. I look forward to welcoming the talented staff of thyssenkrupp’s Mining business to our organisation.”

Martina Merz, Group CEO of thyssenkrupp AG, said: “FLSmidth is an excellent owner and a very good new home for our mining activities. Both companies have a strong cultural fit and are a good match: the business models are comparable; the technologies complement each other well. The result is a world-leading technology provider from pit to plant. This is also a great opportunity for our employees. The merged new company will be able to drive innovation and digitalisation even faster and will increasingly focus on sustainability and ways to reduce environmental footprint.”

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