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

  • Egis reporting strong performance
    April 6, 2016
    French firm Egis is reporting improved group performance with its latest financial results. In 2015, the Group’s managed turnover amounted to €937 million, up 10% compared with 2014 (€854 million). This growth can be attributed to acquisitions which account for approximately 6%, but it is also due to business development: 4% excluding scope effects. Following a drop in 2014, the order intake for engineering has resumed an upward trend. It represented 14 months of business in 2015, taking the order book t
    Read More
  • Kosovo's award-winning green highway construction
    March 20, 2012
    A new highway is proving an economic lifeline for the tiny country of Kosovo – Mike Woof reports. Road projects in Europe rarely meet such widespread public approval and support as the new Route 7 highway being built in the new Balkan state of Kosovo. The first sections of the new road opened to traffic in November 2011, with locals turning out in large numbers to celebrate the event. The official opening was carried out by the country’s prime minister Hashim Thaçi, president Atifete Jahjaga, and members of
    Read More
  • GPS technology developments
    June 13, 2012
    The use of GPS-inclusive technology is proving invaluable to contractors responsible for major transport-related construction projects across the globe. Guy Woodford looked at some of the latest and imminent site solutions featuring GPS Staff at Trimble Heavy Construction based in Sunnyvale, California recently finished developing three new solutions for connecting the construction site. The Trimble Connected Office, the Trimble Connected Controller and the Trimble Connected Machine, are all now available t
    Read More
  • New date set for M&T construction machinery exhibition
    June 11, 2021
    A new date has been set for the M&T construction machinery exhibition.
    Read More

Highlighted Content