FLSmidth completes TK Mining acquisition

On September 1, FLSmidth confirmed that its takeover of thyssenkrupp’s mining business TK Mining closed on August 31, just two weeks after confirming the deal had met the needed requirements to be completed.

The transaction makes the newly combined company 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 takeover transaction were first announced in July. No financial details were provided.

FLSmidth group CEO Mikko Keto noted earlier this year the addition of TK Mining would 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.

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