FLSmidth and NHI Group sign joint venture agreement
Published by Angharad Lock,
Digital Assistant Editor
World Coal,
FLSmidth and NHI Group have signed an agreement to enter into a joint venture for the design and supply of mining equipment targeting the mid-market segment. The companies will have an equal amount of shares.
The joint venture will be established with its own board of directors and management under the name NHI-Fuller (Shenyang) Mining Co., Ltd (NHI-Fuller), which will financially report results as part of the Minerals Division in FLSmidth. It is expected that NHI-Fuller will be operational in 1Q17.
The joint venture will be established with its own board of directors and management under the name NHI-Fuller (Shenyang) Mining Co., Ltd (NHI-Fuller), which will financially report results as part of the Minerals Division in FLSmidth. It is expected 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 brand name.
The aim 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," says Group Executive Vice President of the Minerals Division in FLSmidth, Manfred Schaffer.
Read the article online at: https://www.worldcoal.com/coal/30092016/flsmidth-and-nhi-group-sign-joint-venture-agreement/
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