FLSmidth and Chinese Mining Equipment Supplier Sign JV for Design and Supply of Mining Equipment
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FLSmidth and Northern Heavy Industries Group Co., Ltd (NHI Group), based in Shenyang, China, have signed an agreement to enter into a joint venture — with an equal amount of shares — for the design and supply of mining equipment targeting the mid-market segment.
The joint venture will be established with its own board of directors and management under the name NHI-Fuller (Shenyang) Mining Co., Ltd, which will financially report results as part of the minerals division in FLSmidth. It is anticipated that NHI-Fuller will be operational in the first quarter of 2017.
The NHI-Fuller products will be designed for the specific needs of mid-market or CAPEX sensitive customers in the mining industry and will be marketed under the NHI-Fuller brand name.
While the initial focus will be to supply crushing products, the goal of the joint venture will be to become the leading mid-market mining equipment supplier for other product lines as well.
“In 2014, we announced that part of our strategy in the minerals division was to enter the expanding mid-market for mining equipment. With the NHI Group, we have now found a perfect industrial partner for this quest,” said Manfred Schaffer, group executive vice president of the minerals division at FLSmidth.
About NHI Group
Northern Heavy Industries Group Co., Ltd. is a wholly state-owned company. The main products are tunnel-engineering, power plant equipment, building material, metallurgy, mining, port, environmental protection, forging, fracturing equipment, coal machinery and transmission machinery. The NHI Group employs more than 10,000 people and is among China’s leading heavy machinery manufacturers. Its products are sold to more than 30 countries worldwide.
To stop by NHI Group’s website, CLICK HERE
About FLSmidth
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 the 13,000 employees in FLSmidth.
To stop by FLSmidth’s website, CLICK HERE
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