The final closing of mining engineering, equipment and services company FLSmidth’s acquisition of multinational engineering company ThyssenKrupp’s mining business TK Mining will take place on August 31, now that all conditions and requirements for the transaction have been met.
FLSmidth confirmed on August 12 that all regulatory clearances had been obtained without imposition of any competition-related remedies.
TK Mining – which has about 2 000 employees who, along with the company’s existing clients, will be absorbed into FLSmidth – is a full-line supplier of solutions for mining systems, materials handling, mineral processing and services. The combination of FLSmidth and TK Mining will create a global mining technology and service provider with operations from pit-to-plant.
“Today’s announcement marks a significant milestone in the history of 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,” FLSmidth group CEO Mikko Keto said.