To support its growth plans in China, Metso said it 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 the fourth quarter of 2019. After the transaction, Metso will be 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.