Metso completes the acquisition of the construction equipment supplier Shaorui
Heavy Industries Ltd. in China
HELSINKI, Finland, Sept. 27, 2013 (GLOBE NEWSWIRE) --
Metso Corporation's press release on September 27, 2013 at 11:00 a.m. local time
Metso continues to strengthen its presence in the fast growing Chinese
construction market through the completion of the acquisition of Shaorui Heavy
Industries Ltd. (Shaorui), announced in November 2012. Located in Shaoguan in
Guangdong Province, Shaorui is one of the leading mid-market crushing and
screening equipment producers in China. 75 percent ownership of Shaorui and
approximately 330 employees will transfer to Metso as of today. Metso has an
option to purchase the remaining 25 percent of the company in the future. The
value of the acquisition will not be 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. 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",
states Pekka Pohjoismäki, President, Crushing and Screening business line,
Mining and Construction, Metso.
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.
"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", he continues.
Metso in China
The year 2013 marks Metso's 80-year anniversary in China. The company's first
contract from China, a paper machine delivery, was signed in 1933. Today, Metso
has a strong and well-established presence in China. Metso's about 3,500
employees in China address local customer needs in all Metso's key customer
industries, and support the sustainable development of China's industries and
Shaorui Heavy Industries Ltd. is one of the leading mid-market crushing and
screening equipment producers in China. It employs some 330 people. Shaorui has
a leading local market position and a well-known brand in South China; it is
headquartered in Shaoguan of Guangdong Province.
Metso's mining and construction professionals specialize in always bringing the
right technology, processes, machinery and services to our customers in
aggregates production, construction, mining and minerals processing.
Metso is a global supplier of technology and services to customers in the
process industries, including mining, construction, pulp and paper, power, and
oil and gas. Our 30,000 professionals based in over 50 countries contribute to
sustainability and deliver profitability to customers worldwide. Metso's shares
are listed on the NASDAQ OMX Helsinki Ltd.
For further information, please contact:
Pekka Pohjoismäki, President, Crushing and Screening Equipment business line,
Mining and Construction, Metso, tel. +358 400 334 400
Xiaofeng Liang, SVP China market area, Mining and Construction, Metso, tel.
+86 138 012 889 53
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