To support its growth plans in China, Metso has exercised its call option to acquire the remaining 25% of shares of Shaorui Heavy Industries, a Chinese manufacturer of crushing and screening equipment targeted for the mid-markets.
Metso will soon become sole owners of crushing and screening equipment manufacturer Shaorui Heavy Industries. Image credit: Metso
“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,” says Markku Simula, president of the aggregates equipment business area at Metso.
The transaction is expected to be completed during Q4 2019. After the transaction, Metso becomes the sole owner of the company with 100% of its shares, completing the acquisition initially made in September 2013.