Metso has completed its acquisition of a 75% stake in Chinese crushing & screening equipment manufacturer Shaorui Heavy Industries. The deal was announced in November 2012 and its value has not been disclosed.
Located in Shaoguan in Guangdong Province, Shaorui makes mid-market crushing and screening equipment and has 330 employees. Metso has an option to purchase the remaining 25% of the company in the future.
Pekka Pohjoismäki, president of Metso’s crushing and screening business line said, "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 a market driven technology offering for China. This will be done by utilising the technological know-how of both Shaorui and Metso to further enhance our product offering.”
The company added that it saw the acquisition as a way of increasing its market coverage worldwide, by using the mid-market Shaorui products to complement Metso’s own premium machines.
“After the acquisition, Metso will have a better product portfolio for penetrating also to other emerging markets,” said a company statement.