Sep 1, 2022 8:00 AM
thyssenkrupp successfully completes sale of mining business to FLSmidth
A further step has been taken toward focusing the portfolio and transforming the Group
Completion of a business disposal in the Multi Tracks segment for the third time in the current business year
Mining business benefits from attractive development prospects
Multi Tracks CEO Dr. Volkmar Dinstuhl: "With the sale of the mining business, we are further tightening our portfolio and taking a major step toward our goal of becoming a highly efficient Group with strong, independent and specialized businesses."
With the closing, thyssenkrupp has completed the sale of the Mining Technologies business unit to the Danish company FLSmidth. In doing so, thyssenkrupp has once again renewed the focus of its portfolio and taken a further step toward becoming a high-performance Group. Completion of this transaction has also improved the Group's net financial position and thus further strengthened thyssenkrupp's balance sheet. The sale was announced in July 2021.
Dr. Volkmar Dinstuhl, CEO of the Multi Tracks segment: "With the sale of the mining business, we are further tightening our portfolio and making a major contribution toward making thyssenkrupp a highly efficient Group with strong, independent and specialized businesses."
Dinstuhl continued: "FLSmidth is one of the world's leading suppliers of technology to the mining and cement industries. We are convinced that thyssenkrupp Mining Technologies has attractive future prospects and development opportunities within the new ownership structure."
In the past ten months, thyssenkrupp's Multi Tracks segment has already successfully completed the sale of the Infrastructure business and the AST stainless steel mill. By completing the sale of Mining Technologies, the Group has thus achieved what is already the third closing in the current business year.
thyssenkrupp Mining Technologies offers tailored mining solutions and employs around 2,200 people at over 40 locations worldwide. The merger with FLSmidth will create a strong company with a global presence and a leading role in the mining business.