FLSmidth has confirmed that its takeover of thyssenkrupp’s mining business TK Mining has met the needed requirements and the deal will close at the end of August.
The company said 12 August that, once the two combined on 31 August, it will be the leading global mining technology and service provider with operations from pit to plant and with a strong focus on productivity and sustainability.
Plans for the transaction were first announced in July. No financial details were provided.
FLSmidth group CEO Mikko Keto noted that the addition of TK Mining will boost its staff numbers by about 2,000 and underscores its future plan.
“Today’s announcement marks a significant milestone in the history of FLSmidth,” Keto said.
“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 said it will offer updated financial guidance and more information on the impact of the deal in its upcoming results report in November.