thyssenkrupp announced the sale of its Mining Technologies business unit to FLSmidth, thus reaching a further important milestone in the initiated realignment of the group. The enterprise value is EUR325m. The closing of the transaction is expected within the next 12 months.
The Mining business was allocated to the Multi Tracks segment in October 2020 in order to find a new owner. With the sale, thyssenkrupp is successfully divesting the first major portfolio company in this segment. The business unit currently employs some 3,400 people and generated sales of around EUR0.8bn. in fiscal year 2019/2020. The sale is an important step in the initiated transformation of the group and the associated focusing of the portfolio. The aim is to transform thyssenkrupp into a high-performing “group of companies” with independent businesses, a lean holding company and a focus on systematic performance improvement across all businesses.
The tie-up with FLSmidth, a listed company from Denmark and one of the world’s leading suppliers of technologies for the mining and cement industries, will create a strong player with a global presence and leading solutions along the entire mining business value chain. A particular focus is on green technologies that can significantly reduce resource consumption and emissions in the mining industry. FLSmidth also has great expertise in taking over companies and has proven highly successful in integrating these companies.
