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

  • Increased asphalt demand - meeting the challenge
    February 8, 2012
    With demand for asphalt predicted to increase, manufacturers are ready to meet the challenge as Patrick Smith reports
    Read More
  • Astec Industries gets Indian boost
    December 4, 2012
    Astec Industries has unveiled “optimistic plans” for India where the government plans to spend US$600 billion on infrastructure in the coming years. Recently, four US-based companies of Astec Industries hosted two senior executives of Tractors India Limited (TIL) to further cooperation initiatives and strengthen Astec’s market position in India. Utilising its newly-opened state-of-the-art 20,000m² production facility in Kharagpur, West Bengal, TIL will manufacture a range of Astec Aggregate and Mining crush
    Read More
  • Italian firms’ more global vision
    February 22, 2013
    At a diminished Asphaltica exhibition, many of Italy’s asphalt sector companies spoke of the importance of overseas markets. Kristina Smith spoke to some of the firms seeking export success. Italy’s 6th Asphaltica show, held in Padua in November last year, provided a snapshot of the challenging economic conditions faced by the country. 2012 was the year when Italy felt the impact of the economic crisis which many other European countries had already suffered. Reflecting this, the exhibition was half the siz
    Read More
  • Hill & Smith results 'in line with outlook'
    February 27, 2012
    Hill & Smith Holdings says it has delivered a performance in the first half of 2011 in line with the outlook given at the time of the full-year results in March.
    Read More

Highlighted Content