Thyssenkrupp sells Mining business to FLSmidth for EUR 325 million

“The successful sale of the Mining business shows that we are pressing ahead at full speed with the transformation of thyssenkrupp and achieving important results step by step. But we have not yet reached our goal. The principle ‘Performance first’ continues to apply. We need to return to positive cash flow as quickly as possible. The sale of Mining Technologies makes an important contribution to this,” said Martina Merz, CEO of thyssenkrupp AG. “At the same time I am pleased that we have found a very good new owner in FLSmidth. FLSmidth presented a convincing business strategy and a clear vision for the Mining business. It will give our employees attractive prospects. That was extremely important to us when negotiating the sale,” said Merz.

“Thomas Schulz, CEO of FLSmidth, said: “thyssenkrupp’s Mining business is an ideal addition for FLSmidth. We are particularly impressed by the capabilities, expertise and reputation of the thyssenkrupp employees, especially in projects and products.  The large global installed base offers great potential for the service and aftermarket business. We have similar business models, share a strong focus on sustainability and digitalization and our corporate cultures are a good match. As a result, I am very much looking forward to combining our strengths; I am convinced that together we will play a leading role in shaping a zero emission future for the mining industry and in creating sustainable growth for our customers, employees and shareholders.”

 Source and Photo: Thyssenkrupp