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FLSmidth and NHI Group sign joint venture

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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.

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