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

  • SK Innovation and Continental team up on battery technology
    July 25, 2012
    South Korean company SK Innovation and international automotive supplier Continental, have signed an agreement founding a jointly managed company to develop and supply battery technology for the automotive industry. The know-how of both firms will be concentrated in this new company with the goal of mutually developing, producing and globally marketing lithium-ion battery systems for cars.
    Read More
  • Machine control advances boosting quality
    June 12, 2017
    The latest developments in machine control technology will deliver major gains in quality and productivity. Machine control technology plays an increasingly important role in construction. The pace of development has been fast, with new systems offering major gains in both productivity and quality across a range of applications. At the recent CONEXPO-CON/AGG 2017 exhibition in Las Vegas, key advances were unveiled in machine control technologies suited to markets such as earthmoving, concrete paving and pil
    Read More
  • Renishaw completes acquisition of laser measurement specialists MDL
    February 5, 2013
    Global engineering technology firm Reinshaw now has full ownership of UK-based Measurement Devices Ltd (MDL), following the purchase of an outstanding 34% shareholding for US$7.07 million (£4.5mn). The acquisition of the shares concludes an agreement reached in 2010, when Renishaw purchased an initial 29% stake in MDL, the designers and manufacturers of high speed laser measurement and surveying systems for use in extreme conditions. Steve Ball, the founder of MDL, will be leaving the company, whilst Elaine
    Read More
  • Wheeled loaders tackle costs, reduce emissions
    February 7, 2012
    Volvo CE says that lowering fuel consumption will tackle fleet costs and deliver environmental benefits for its customers, Mike Woof reports. Volvo Construction Equipment (Volvo CE) is targeting fuel economy and performance with its latest generation of machines. The new L180F and L220F wheeled loader models are being fitted with the sophisticated OptiShift package, which will boost operation and driveline efficiencies and cut fuel consumption by 15%, and more in some instances.
    Read More

Highlighted Content