PRESS RELEASE, Copenhagen, Denmark
FLSmidth has reached an agreement to acquire a part of Sandvik Mining Systems. This includes continuous surface mining and minerals handling technologies and competences that will strengthen the Group's core minerals business.
The pending acquisition enables FLSmidth to improve productivity for its customers by closing a gap and cover a wider range of the full mining value chain - from the primary crushing point in the mining pit and the transport from mine to plant all the way through the minerals processing plant to the tailings handling - "Pit to Plant". By obtaining direct access to all key processes and equipment, the acquisition will allow FLSmidth to digitalise the full value chain and enables a better utilisation of existing leading technologies.
Facts about the pending acquisition
- The part of Sandvik Mining Systems that is closest to the mine. This includes all products for continuous surface mining and minerals handling technologies and related intellectual property, including drawings and reference lists.
- The transfer of employees with strong experience, competences and customer insights.
- FLSmidth to provide project management and aftermarket services to Sandvik on the majority of ongoing projects to be delivered during 2017 - 2019.
The agreement is subject to certain conditions, including regulatory authority clearance, and closing is expected by the end of 2017.
Contact Media Relations
Michael Duricko, +1 484 274-0963, michael.duricko@flsmidth.com
Contact Investor Relations
Nicolai Mauritzen, +45 30 93 18 51, nicm@flsmidth.com
FLSmidth is the market-leading supplier of productivity to the global mining and cement industries. Headquartered in Copenhagen, Denmark, and with offices in more than 50 countries, FLSmidth delivers engineering, equipment and service solutions to customers worldwide. Productivity, sustainability, and quality are focus areas for FLSmidth and its 12,000 employees. The company generated revenue of DKK 18 billion in 2016. Read more on www.flsmidth.com.