Metso strengthen presence in China
Company completes acquisition of construction equipment suppliers Shaorui Heavy Industries Ltd
METSO are continuing to strengthen their presence in the fast-growing Chinese construction market through the completion of the acquisition of Shaorui Heavy Industries Ltd, as announced in November 2012.
Located in Shaoguan in Guangdong Province, Shaorui are one of the leading mid-market crushing and screening equipment producers in China.
Seventy-five percent ownership of Shaorui and approximately 330 employees have now transferred to Metso, who have an option to purchase the remaining 25% of the company in the future. The value of the acquisition has not been disclosed.
‘The acquisition is an important step for us and helps us gain deeper knowledge of the products and customers in the Chinese construction markets,’ said Pekka Pohjoismäki, president of Metso Mining and Construction’s Crushing and Screening business line.
‘Our aim is to better serve the needs of our Chinese customers by developing a market-driven technology offering for China. This will be done by utilizing the technological know-how of both Shaorui and Metso to further enhance our product offering.
‘Our recent actions in China – the acquisition of Shaorui Heavy Industries Ltd and the joint venture with LiuGong Group Corp. Ltd, announced last November – significantly strengthen our supply capabilities for the Chinese construction industry.’
In addition, Metso say that by combining their current premium product offering with Shaorui’s excellence in mid-market products, they will have a better product portfolio for penetrating other emerging markets.
