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

  • Liugong R&D vice president tells of significance of HSW-Desstra link-up
    November 27, 2012
    David Beatenbough, vice president of LiuGong research and development, has talked about the importance of the Chinese construction manufacturing equipment giant’s purchase earlier this year of Poland-based HSW and its Dressta distribution subsidiary. Speaking during a LiuGong press conference at bauma China 2012, he said: “The acquisition of Dressta was LiuGong’s first significant acquisition overseas so it was very important to us. This year was mostly a year of rebuilding and reforming foundations in Dres
    Read More
  • Construction equipment market to grow - CEA report
    February 29, 2012
    The UK’s Construction Equipment Association attracted a large audience for its annual general meeting.
    Read More
  • Terex merger partner Konecranes plans efficiency savings
    February 10, 2016
    Finnish port crane manufacturer Konecranes, which plans to merge with Terex Corporation, said it will make annual cost savings of €25 million by the end of 2017. The company said that while merger talks with US manufacturer Terex continue, it needs to make efficiency savings. Around half of the savings will happen before the end of this year, according to a written statement. Plant down-sizing and closures are a possibility, as well as some streamlining of its product portfolio and its supply chain.
    Read More
  • Wirtgen Group aims for €1.8bn 2012 sales and targets emerging markets
    September 25, 2012
    Wirtgen Group expects to achieve record net sales of €1.8 billion in 2012, according to joint company president Jürgen Wirtgen. The performance forecast for the German road building and quarrying equipment manufacturer – a slight rise on 2011 net sales of €1.76 billion – was revealed as Jürgen and brother and co-Wirtgen Group president, Stefan Wirtgen, told a press conference at the recent Wirtgen Mineral Technology Days event about the company’s sales push in emerging markets.
    Read More

Highlighted Content