In a statement, the company said that it will sell its Mining Technologies business unit to Danish mining equipment supplier FLSmidth. The sale is valued at EUR325 million.

“The successful sale of the Mining business shows again that we are pressing on at full speed with the transformation of thyssenkrupp and achieving important results step by step,” said thyssenkrupp chief executive Martina Merz.

The acquisition is pending regulatory approval, but the company anticipates the purchase will be completed within the next 12 months.

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