The business combination will 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, the firms said in the statement.
“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 digitalization and MissionZero solutions,” FLSmidth said.
In recent months, Thyssenkrupp chief executive Martina Merz has focused on improving the company’s bottom line and structure by divesting underperforming businesses.
The service provider is also in advanced talks with potential buyers for its Italian stainless steel division AST, as well as its Infrastructure unit, which among other goods makes scaffolding and flood protection equipment, Merz said in May.
The deal, announced in January, is expected to close in the second half of 2022.
