Metso develops presence in China with acquisition

Metso has now completed its acquisition of a majority stake in Chinese construction equipment supplier Shaorui Heavy Industries. This is a significant move and will strengthen Metso’s presence in the Chinese construction market. Shaorui Heavy Industries (Shaorui), is one of the leading mid-market crushing and screening equipment producers in China. The move leaves Metso with a 75% holding in Shaorui and an option to purchase the remaining 25% in the future. The size of the deal has not been revealed however
September 27, 2013 Read time: 2 mins
6934 Metso has now completed its acquisition of a majority stake in Chinese construction equipment supplier 6935 Shaorui Heavy Industries. This is a significant move and will strengthen Metso’s presence in the Chinese construction market. Shaorui Heavy Industries (Shaorui), is one of the leading mid-market crushing and screening equipment producers in China. The move leaves Metso with a 75% holding in Shaorui and an option to purchase the remaining 25% in the future. The size of the deal has not been revealed however. Furthermore, it forms a good platform for future growth in terms of the leading crushing and screening market. The deal will give Metso a better product portfolio for emerging markets.

"The acquisition is an important step for us and helps us gain deeper knowledge of the products and customers in the Chinese construction markets. Our aim is to better serve the needs of our Chinese customers by developing technology for China,” said Pekka Pohjoismäki, president, Crushing and Screening business line, Mining and Construction, Metso. "Our recent actions in China, the acquisition of Shaorui Heavy Industries and the joint venture with 269 LiuGong Group Corp, announced last November, significantly strengthen our supply capabilities for the Chinese construction industry," he added.
Materials

For more information on companies in this article

Related Content

  • Caterpillar’s senior executives outline the group’s drive for greater overall efficiency
    March 6, 2014
    Caterpillar senior executives Edward Rapp and David Bozeman have pinpointed “systems integration” as one of the equipment giant’s future targets. Speaking at Conexpo 2014 this week, Edward Rapp, Caterpillar group president said that the introduction of Tier 4 Final engine technology has been a landmark moment for Caterpillar but added that emissions systems are not the answer in themselves to improved performance. “The secret sauce is not the Tier 4, it’s the systems integration” said Rapp.
    Read More
  • Speakers for CONEXPO-CON/AGG technology talks
    February 9, 2017
    CONEXPO-CON/AGG has revealed its list of speakers for its Tech Talks forum. The speakers will focus on the growing opportunities for innovation in infrastructure projects and construction jobsites. The line-up includes some of the world’s leading innovators. These are: Wayne Rapp, director of manufacturing, Hyperloop One; D'Arcy Salzmann, senior director, strategy, Microsoft HoloLens and studio manager, Future Bureau, Microsoft; Captains Mark and Scott Kelly, former NASA astronauts; Scott Brusaw, co-founder
    Read More
  • Growth in asphalt testing equipment
    February 21, 2012
    The building of Italy's highway system just over four decades ago led to the formation of a testing equipment company. It is now among the world leaders. Just over 40 years ago a big surge in construction of the Italian highway system presented an opportunity to a team of local entrepreneurs.
    Read More
  • FIDIC signs key agreements for China and Africa
    January 30, 2020
    FIDIC has signed two important agreements for key international markets.
    Read More

Highlighted Content