thyssenkrupp: in talks to sell its mining business

(CercleFinance.com) - FLSmidth, a Danish provider of equipment and services for the cement and mining industries, has announced that it is in negotiations concerning the acquisition of thyssenkrupp's mining business.


The negotiations are at a non-binding stage, FLSmidth said, meaning that there can be no guarantee as to whether/when a transaction will be completed, the company said in a brief statement.

Analysts said that thyssenkrupp has been looking to divest its plant technology division, of which a third of sales come from the mining end market.

thyssenkrupp's mining equipment business consists of open-pit mining equipment and systems, and mineral processing solutions, analysts said.

thyssenkrupp shares were up 2.5% on the Frankfurt Stock Exchange on this news.

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