Thomas Schulz, Group CEO of FLSmidth, said: "TK Mining and FLSmidth are a perfect match, and I am proud to announce this agreement to join forces. This is a truly transformational deal allowing us to accelerate our growth ambitions in mining by creating a stronger talent pool and one of the world's largest and strongest suppliers to the mining industry. Our complementary customer base and improved geographic coverage will offer a strong value proposition to our customers. There is a significant opportunity in transforming TK Mining towards FLSmidth's business mix and model in which higher margin service business makes up about 60% of revenue. I look forward to welcoming TK Mining's management team and talented staff to our organisation."