FLSmidth announces completion of TK Mining acquisition – creating a leading global mining technology and service provider
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FLSmidth today announced that all conditions and requirements for the acquisition of thyssenkrupp’s Mining business (TK Mining) have been met (refer Company Announcement No. 7-2021). In accordance with the sale and purchase agreement, final closing of the transaction will take place on the last business day of the month.
Accordingly, the transaction will close on 31 August 2022. All regulatory clearances have been obtained without imposition of any competition related remedies. TK Mining is a leading full-line supplier of solutions for mining systems, material handling, mineral processing and services. The combination of FLSmidth and TK Mining will create a leading global mining technology and service provider with operations from pit-to-plant with a strong focus on productivity and sustainability.
FLSmidth Group CEO Mikko Keto commented: “Today’s announcement marks a significant milestone in the history of FLSmidth. We are very excited to soon welcome our ~2,000 new colleagues and TK Mining’s customers to FLSmidth.
The completion of the acquisition contributes to FLSmidth’s strategic growth ambitions within Mining. Our combined company will offer customers a stronger, complementary value proposition, while creating significant aftermarket opportunities, driving value creation through compelling synergies and further strengthening our sustainability and digitalisation agenda”.
Further impact of the transaction, including updated financial guidance for 2022, will be communicated no later than in connection with the release of FLSmidth’s financial results for the first nine months of 2022 on 8 November 2022.
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