Finland-based Metso Corp. has strengthened its position in the Chinese construction market by completing the acquisition of Shaorui Heavy Industries, originally announced last November. Located in Shaoguan in Guandong Province, Shaorui is one of the leading mid-market crushing and screening equipment producers in China. A 75-percent ownership stake and about 330 employees will join Metso, which has an option to purchase the remaining 25 percent of the company in the future.
The value of the acquisition was not disclosed. Shaorui Heavy Industries is one of the leading mid-market crushing and screening equipment producers in China.
“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 Pohjoismaki, president of the crushing and screening business line for Metro Mining and Construction. “Furthermore, it forms a good platform for future growth in terms of the leading crushing and screening market position by combining Metso’s current premium product offering with Shaorui’s excellence in mid-market products. After the acquisition, Metso will have a better product portfolio for penetrating also to other emerging markets.”
The year 2013 marks Metso’s 80-year anniversary in China.