Joint venture agreement
FLSmidth and Northern Heavy Industries Group Co., Ltd (NHI Group), based in Shenyang/China, 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 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. Subject to obtaining regulatory approval, it is anticipated that NHI-Fuller will be operational in the first quarter of 2017. While the initial focus will be to supply crushing products, the goal of the joint venture will be to become the leading mid-market mining equipment supplier for other product lines as well.
