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FLSmidth Signs 5 Year GFA With Rio Tinto To Supply Fixed Equipment; Stock Up

FLSmidth, a Denmark-based provider of engineering, equipment and service solutions to mining and cement industries, announced Friday that it has executed a five-year, fixed-term Global Framework Agreement or GFA with Rio Tinto plc (RTPPF.PK,RIO.L,RIO,RTNTF.PK).

The agreement is for supply of fixed equipment, including mineral processing and material handling technologies, spare parts, consumables, and maintenance, consultancy and professional services.

FLSmidth is the first fixed equipment supplier to execute a GFA with Rio Tinto.

The GFA runs from November 2019 to November 2024, supporting Rio Tinto's and FLSmidth's respective company objectives of developing closer partnerships with key businesses.

FLSmidth said the deal is strategically significant as it supports the company's goal of developing closer partnerships with tier-1 miners to help them improve the productivity of their global operations.

FLSmidth shares are currently trading at 240.80 Danish kroner, up 2.21 percent.

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