MXCYY - Metso acquires the remaining shares of Chinese Shaorui Heavy Industries Ltd
Metso acquires the remaining shares of Chinese Shaorui Heavy Industries Ltd
Metso Corporation's press release on September 17, 2019 at 1:00 p.m. EEST
To support its growth plans in China, Metso has exercised its call option to acquire the remaining 25% of shares of Shaorui Heavy Industries Ltd, a Chinese manufacturer of crushing and screening equipment targeted for the mid-markets.
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 made in September 2013.
”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.
Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 3.2 billion in 2018. Metso employs over 14,000 people in more than 50 countries. metso.com, twitter.com/metsogroup
For further information, please contact:
Markku Simula, President, Aggregates Equipment business area, Tel. +358 40 5798128, Email: markku.simula@metso.com
Helena Marjaranta, Vice President, Communications and Stakeholder Relations, Tel. +358 20 484 3212, Email: helena.marjaranta@metso.com
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