Metso is strengthening its presence in the fast growing Chinese construction market through two strategic actions: establishing a joint venture with LiuGong Group Corp and acquiring 75 per cent ownership of Shaorui Heavy Industries.
Metso and LiuGong Group Corp (LiuGong) will form a 50:50 joint venture (JV) entity to develop the track-mounted crushing and screening business in China. The JV will combine Metso?s know-how in track-mounted crushing and screening business and technology with LiuGong?s extensive distribution resources (~900 outlets) and manufacturing capabilities in China. Metso will acquire 75 per cent of Shaorui Heavy Industries (Shaorui), which is one of the leading mid-market crushing and screening equipment producers in China. Metso has an option to purchase the remaining 25 per cent of the company in the future. The acquisition enables access to the Chinese mid-market and customers.