FLSmidth finalises acquisition and takes over part of Sandvik Mining Systems
Donnerstag, 02.11.2017 08:00 von GlobeNewswire
PRESS RELEASE, Copenhagen, Denmark
The previously announced acquisition of the Sandvik Mining Systems projects business (press release 12 July 2017) is now concluded except for the transfer of assets in South Africa which is awaiting merger control clearance. The acquisition includes continuous surface mining and minerals handling technologies and competences that strengthen the Group's core minerals business.
By integrating the Mining Systems into FLSmidth's offerings, FLSmidth closes the gap and covers a wider range of the full mining value chain from the primary crushing point in the mine and the transport from pit to plant all the way through the minerals processing plant to the tailings handling.
"With this acquisition we will be able to increase the productivity of the complete "Pit to Plant" operation by better integrating upstream mining with downstream processing. The acquisition also allows us to digitalise the full value chain and enables a better utilisation of existing leading technologies by obtaining direct access to all key processes and equipment," said Manfred Schaffer, Group Executive Vice President, Minerals Division.
The acquisition includes
- The part of Sandvik Mining Systems that is closest to the mine, which excludes Sandvik's conveyor component and Finland based businesses. It includes all products for continuous surface mining, inpit crushing and minerals handling technologies and related intellectual property, including reference lists, drawings and data for installed base.
- The transfer of over 200 employees with strong experience, competences and customer insights.
- FLSmidth to provide project management services to Sandvik on the majority of ongoing projects to be delivered during 2017-2019 and parts and services for the installed equipment.
The closing of the acquisition in South Africa is expected to occur in early 2018.
Contact Media Relations
Sofie Karen Lindberg, +45 30 93 18 77, skl@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
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FLSmidth via Globenewswire