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

  • Swept path software house Simtra bought by Transoft
    May 16, 2014
    Further changes in the vehicle swept path software seem to have been triggered by last year's purchase of the UK's Savoy Computing by Autodesk and subsequent incorporation of its swept path and roundabout design tools into Autodesk's own portfolio. They are now sold as the standalone program Vehicle Tracking 2014. Transoft Solutions, the Canadian-based company has now purchased the Swedish swept path software producer Simtra which only just released a new version of its PathPlanner program. Transoft itse
    Read More
  • Volvo Penta expanding its presence in battery technology
    February 16, 2024
    Volvo Penta is expanding its presence in the battery technology sector
    Read More
  • Repsol and Grupo Kuo agree to expand Dynasol activities
    April 28, 2015
    Dynasol, a global maker of synthetic rubber, much of it destined for large off-road vehicles including construction equipment, will boost its production. Dynasol is a joint venture formed in 1999 by Repsol and Grupo Kuo. Dynasol will focus on developing products for the high-performance tyre which uses synthetic rubber as a raw material and accounts for 70% of the synthetic rubber demand worldwide. The joint venture will have an estimated revenue of US$750 million and will produce more than 500,000 tons a
    Read More
  • China's Roads Convention focuses on sustainability
    February 9, 2012
    IRF joins with key Chinese transport authorities to lead the way in efforts to make sustainable rural mobility, transport and access a reality for millions throughout the world.
    Read More

Highlighted Content