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

  • Sophisticated machine telematics packages offered
    September 27, 2013
    Several of the major equipment manufacturers now offer sophisticated telematics packages fitted as standard to their machines. Caterpillar and Komatsu were amongst the leaders in this field, allowing a high level of access to a machine's systems and sub-systems for performance monitoring, maintenance management and geofencing purposes for example. To the customer this offers the chance to address fleet running costs and utilisation, reduce the risk of theft and increase overall efficiency. Customers can eve
    Read More
  • Volvo Penta is developing electric power solutions
    June 12, 2018
    Volvo Penta has set 2021 as its deadline to introduce electric power solutions.
    Read More
  • AkzoNobel expanding with Flexcrete deal
    July 10, 2017
    AkzoNobel is expanding its operations and portfolio with the acquisition of UK-based concrete repair and protection manufacturer Flexcrete Technologies. As part of the deal, 100% of the shares in Flexcrete Technologies have been acquired by AkzoNobel.
    Read More
  • HxGN Live 2014 attracts record event numbers
    August 28, 2014
    Attracting an HxGN Live event record-breaking 3,500 attendees, HxGN Live 2014 held at the MGM Grand in Las Vegas, US, June 2-5 showcased exciting new and in-demand design, measurement and visualisation technologies for industries including road construction and mining. Themed Great Stories Start Here, this year’s event also included a variety of exclusive presentations by industry experts, hands-on training, inspiring keynotes and international networking opportunities. Guy Woodford reports In
    Read More

Highlighted Content