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

  • Sany on acquisition trail
    March 19, 2012
    Chinese construction equipment firm Sany is buying Putzmeister, the German manufacturer of concrete pumps. The terms of the deal have not been revealed officially but the acquisition is said to be worth €360-500 million according to various reports.
    Read More
  • Sany on acquisition trail
    May 2, 2012
    Chinese construction equipment firm Sany is buying Putzmeister, the German manufacturer of concrete pumps. The terms of the deal have not been revealed officially but the acquisition is said to be worth €360-500 million according to various reports.
    Read More
  • XCMG boosting capacity
    January 6, 2017
    Increased manufacturing capacity has been a key focus for XCMG in recent years, with the firm having committed to upgrading its production facilities. XCMG has invested heavily in new manufacturing capacity for its ranges of cranes and wheeled loaders and both the Heavy Machinery and Wheeled Loader divisions now have new factories. The heavy crane facility produces machines in the 90tonne category and above and all production moved to the new plant in 2012 as the old factory was too small. The new facility
    Read More
  • XCMG boosting capacity
    November 26, 2012
    Increased manufacturing capacity has been a key focus for XCMG in recent years, with the firm having committed to upgrading its production facilities. XCMG has invested heavily in new manufacturing capacity for its ranges of cranes and wheeled loaders and both the Heavy Machinery and Wheeled Loader divisions now have new factories. The heavy crane facility produces machines in the 90tonne category and above and all production moved to the new plant in 2012 as the old factory was too small. The new facility
    Read More

Highlighted Content