Thyssenkrupp boss Martina Merz is rebuilding the traditional group. Many parts of the company are therefore on the sales list. The Essen-based company has now found a buyer for mining technology.
The industrial and steel group Thyssenkrupp is making progress with its realignment. The Essen company is selling its business with machinery and equipment for mining to the Danish company FLSmith, as they announced on Thursday.
The Mining Technologies business unit, which among other things builds huge bucket wheel excavators, currently has around 3,400 employees and has an annual turnover of around 800 million euros.
The company value is put at 325 million euros in the announcement. The inflow of funds for Thyssenkrupp should be at a comparable level. The sale is subject to merger control approvals. Thyssenkrupp expects the transaction to be completed within the next 12 months.
«The successful sale of the mining business shows that we are pressing ahead with the restructuring of Thyssenkrupp at full speed and are achieving important results step by step. However, we are not there yet, ”said Group boss Martina Merz.
The manager had prescribed a downsizing treatment for the troubled traditional company. Parts of the company that are to be sold or discontinued have been combined in a new company segment called “Multi Tracks”, which has around 18,700 employees and a turnover of around 5.5 billion euros.
According to Thyssenkrupp, it is also making progress in separating from other parts of the group. At the stainless steel plant in Terni, Italy, they are in talks with several potential buyers. In the civil engineering business area, the sales process is at an advanced stage. On the other hand, the heavy plate business and the Carbon Components division, which produces carbon rims for car and motorcycle manufacturers, will be closed.
According to Thyssenkrupp, FLSmith is one of the world’s leading providers of technologies for the mining and cement industries. The Danes have a compelling business strategy. «Our employees receive attractive prospects. That was extremely important to us in the sales negotiations, ”said Merz.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
