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

  • Hexagon expanding by acquisition
    January 9, 2025
    Hexagon is expanding by acquisition.
    Read More
  • Bilbao benefits from major tunnel project
    February 10, 2012
    The northern Spanish city of Bilbao looks set to benefit from a major tunnel construction project aimed at reducing traffic congestion on its vehicle clogged streets. The city is building a new underground metro section, Line 3, which will help carry commuters to and from the city's commercial centre and help reduce vehicle journey times on the surface. This project is also making use of the latest piece of tunnelling equipment from Sandvik, the MT520 roadheader, a powerful machine designed and built at
    Read More
  • Wirtgen going for growth
    May 28, 2012
    The Wirtgen Group has held a highly successful Technology Days event at the brand new Kleemann facility in Göppingen near Stuttgart. Some 2,600 people attended this year's event, the largest of the three held so far by the firm. A key focus for this year was highlighting the full integration of the Kleemann crushing equipment operation within the Wirtgen Group. The previous Technology Days events were held at the Hamm facility in Tirschenreuth and at the Wirtgen headquarters in Windhagen. Following the Kle
    Read More
  • Metso launching “revolutionary” crushing technology
    January 19, 2017
    Metso is promising the industry’s “biggest launch in decades!” with the unveiling of “revolutionary” crushing technology to increase uptime while cutting customers’ operational costs. The Finnish crushing and screening giant also describes the to-be-launched model as the “most versatile crusher yet.”
    Read More

Highlighted Content