FLSmidth and NHI Group sign joint venture
Published by Rebecca Bowden,
Assistant Editor
World Cement,
FLSmidth and Northern Heavy Industries Group Co. Ltd 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 JV will be established with its own Board of Directors and management under the name NHI-Fuller Mining Co. It will financially report results as part of the Minerals Division in FLSmidth. Subject to obtaining regulatory approval, it is anticipated that NHI-Fuller will be operational in 1Q17.
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 name. The initial focus will be on supplying crushing products, with the goal of later becoming 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," says Group Executive Vice President of the Minerals Division in FLSmidth, Manfred Schaffer.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/10102016/flsmidth-and-nhi-group-sign-joint-venture/
You might also like
The World Cement Podcast - The changing face of cement in Europe
In this special joint episode of the World Cement Podcast and Cementing Europe’s Future, Senior Editor David Bizley is once again joined by Koen Coppelholle, CEO of Cement Europe (formerly CEMBUREAU). The two discuss the reasons behind the rebrand, a new action plan for cement, and the future of the industry.
Tune in to the World Cement Podcast on your favourite podcast app today.
