At the end of July 2021 thyssenkrupp AG, Essen\/Germany, announced the sale of its Mining Technologies business unit to the Danish company FLSmidth, thus reaching a further important milestone in the initiated realignment of the group. The enterprise value is 325 M\u00a0\u20ac. The transaction is subject to competition authority approval. The closing of the transaction is expected within the next twelve months.<\/p>\n
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 0.8 bn \u20ac 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 \u201cgroup of companies\u201d with independent businesses, a lean holding company and a focus on systematic performance improvement across all businesses.<\/p>\n
\u201cThe 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 \u201cPerformance first\u201d 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,\u201d said Martina Merz, CEO of thyssenkrupp. \u201cAt 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,\u201d said Merz.<\/p>\n
The tie-up with FLSmidth, a listed company from Denmark and one of the world\u2019s 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.<\/p>\n
Thomas Schulz, CEO of FLSmidth, said: \u201cthyssenkrupp\u2019s 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.\u201d (thyssenkrupp\/Si.)<\/p>\n","protected":false},"excerpt":{"rendered":"
At the end of July 2021 thyssenkrupp AG, Essen\/Germany, announced the sale of its Mining Technologies business unit to the Danish company FLSmidth, thus reaching a further important milestone in …<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[850],"tags":[142],"class_list":["post-13235","post","type-post","status-publish","format-standard","hentry","category-news-in-brief-issue-06_2021","tag-thyssenkrupp"],"yoast_head":"\n