Mobile Navigation

Chemical Engineering

View Comments

Thyssenkrupp completes sale of mining business to FLSmidth

| By Mary Bailey

thyssenkrupp AG (Essen, Germany) has completed the sale of its Mining Technologies business unit to FLSmidth (Copenhagen, Denmark). In doing so, thyssenkrupp has once again renewed the focus of its portfolio and taken a further step toward becoming a high-performance Group. Completion of this transaction has also improved the Group’s net financial position and thus further strengthened thyssenkrupp’s balance sheet. The sale was announced in 2021.

Dr. Volkmar Dinstuhl, CEO of the Multi Tracks segment: “With the sale of the mining business, we are further tightening our portfolio and making a major contribution toward making thyssenkrupp a highly efficient Group with strong, independent and specialized businesses.”

Dinstuhl continued: “FLSmidth is one of the world’s leading suppliers of technology to the mining and cement industries. We are convinced that thyssenkrupp Mining Technologies has attractive future prospects and development opportunities within the new ownership structure.”

In the past ten months, thyssenkrupp’s Multi Tracks segment has already successfully completed the sale of the Infrastructure business and the AST stainless steel mill. By completing the sale of Mining Technologies, the Group has thus achieved what is already the third closing in the current business year.

thyssenkrupp Mining Technologies offers tailored mining solutions and employs around 2,200 people at over 40 locations worldwide. The merger with FLSmidth will create a strong company with a global presence and a leading role in the mining business.