Metso buys final 25% of Shaorui
By Leila Steed19 September 2019
Metso corporation has acquired the remaining 25% of the shares of crushing and screening equipment manufacturer Shaorui Heavy Industries.
Metso said the move supports its regional growth plans and that it expected to complete the transaction before the end of 2019, at which time it would be the sole owner of the mid-market crushing and screening equipment manufacturer. Shaorui originally became a subsidiary of the corporation in 2013, when Metso bought a 75% share in the company.
Markku Simula, president of the aggregates equipment business area at Metso, said: “Shaorui business is growing and our expectations are positive. Today, they are one of the leading mid-market crushing and screening equipment producers in China, and full ownership provides us an opportunity to broaden our scope in terms of new markets and offering.”
The news comes just weeks after Shaorui, located in Shaoguan in China’s Guangdong Province, launched its first range of mobile crushers and screeners specifically designed for the Chinese market.