MOST TRUSTED NEWSWIRE PRESS RELEASE DISTRIBUTION
PRTODAY / NewswireToday press release distribution service network
More news: Energy
Written by / Agency / Source: Metso Corporation
Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Metso Strengthens its Presence in the Fast Growing Chinese Construction Market Through Two Strategic Actions - Metso is strengthening its presence in the fast growing Chinese construction market through two strategic actions: Establishing a joint venture with LiuGong Group Corp. Ltd and acquiring 75% ownership of Shaorui Heavy Industries Ltd - Metso.com
Metso Strengthens its Presence in the Fast Growing Chinese Construction Market Through Two Strategic Actions

 

NewswireToday - /newswire/ - Helsinki, Finland, 2012/11/27 - Metso is strengthening its presence in the fast growing Chinese construction market through two strategic actions: Establishing a joint venture with LiuGong Group Corp. Ltd and acquiring 75% ownership of Shaorui Heavy Industries Ltd - Metso.com. MEO1V.HE

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Metso continuously strives to better serve the needs of Chinese customers and to support the sustainable development of China’s industries and infrastructure.

Joint venture with LiuGong Group Corp. Ltd
Metso and LiuGong Group Corp. Ltd (LiuGong) will form a 50%-50% joint venture to develop the track-mounted crushing and screening business in China. The joint venture 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. The initial scope of the joint venture will cover the design and manufacture of localized versions of Metso’s Lokotrack 1000 series mobile crushers and screens; the range may be further expanded in the future. The products will be sold under dual branding: Metso LiuGong. The joint venture company will also promote Metso's global track-mounted crushing and screening equipment in China.

The joint venture enables the capture of a significant market share of the fast growing mobile crushing and screening market in China. The value of the investment made in the new company will not be disclosed. The deal will have no effect on Metso’s existing distributor network in other parts of the world. The transaction is subject to the relevant regulatory approvals, which are expected in the next six months.

Acquisition of Shaorui Heavy Industries
Metso will acquire 75% of Shaorui Heavy Industries Ltd (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% of the company in the future. The acquisition enables access to the Chinese mid-market and customers. 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. The technological know-how of both companies will be used to further enhance our product offering in China. In addition, after the acquisition, Metso will have a better product portfolio for penetrating new markets in Asia and Africa.

Shaorui’s 18 sales and services centers and a strategically located manufacturing facility in southern China complement Metso’s manufacturing unit in Tianjin. The value of the acquisition will not be disclosed. The transaction is subject to the relevant regulatory approvals, which are expected in the next few months.

“China is a very important market for us, and we want to be part of the future development of the fast growing construction market. The joint venture with LiuGong offers us an opportunity to enter the crushing and screening mobile equipment market in China together with a well-known partner. By acquiring 75% of Shaorui, we will gain deeper knowledge about the mid-market customers and products that will benefit us in many ways. In the longer term, both of these investments will naturally grow the installed base of Metso crushers in China providing future service potential,” says Andrew Benko, President, Mining and Construction, Metso.

Metso in China
The Chinese construction equipment market is estimated to reach USD 100 billion by 2016, driven by urbanization and infrastructure development, and offers great growth opportunities for Metso.

Metso entered China 80 years ago: the first deliveries to China were made by Metso’s predecessor in the 1930s. Currently, Metso Group has more than 3,200 employees in China and a local network of manufacturing and sales and service outlets. In 2011, China was one of Metso’s biggest countries in terms of net sales, which totaled EUR 777 million. Metso operates in seven fully owned factories and three service centers, and it has three joint ventures with local partners.

Shaorui Heavy Industries Ltd. is one of the leading mid-market crushing and screening equipment producers in China. It employs some 370 people. Shaorui has a leading local market position and a well-known brand in South China; it is headquartered in Shaoguan of Guangdong Province.

Founded in 1958 in Liuzhou, China, LiuGong Group Corp. Ltd. (LiuGong) is the largest wheel loader manufacturer in the world. LiuGong offers a full line of machines, including wheel loaders, bulldozers, backhoes, skid steers, forklifts, graders, excavators, rollers, truck-mounted cranes, pavers and cold planners. The Company owns facilities in, among other locations, Liuzhou, Tianjin, Shanghai, Changzhou, Zhenjiang, Jiangyin and Bengbu.

Metso’s mining and construction professionals (metso.com/miningandconstruction) specialize in always bringing the right technology, processes, machinery and services to our customers in aggregates production, construction, mining and minerals processing.

Metso (metso.com) 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 deliver sustainability and profitability to customers worldwide. Expect results.

For further information, please contact:
Pekka Pohjoismäki, President, Crushing and Screening Equipment business line, Mining and Construction, Metso, T: +358 400 334 400 (at 12-1 pm. Finnish local time)
Liang Xiaofeng, SVP China, Mining and Construction, Metso, T: +86 13801288953

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Metso Corporation

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick NewswireToday Visibility Checker

 

Distribution / Indexing: [+]  / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


Metso Strengthens its Presence in the Fast Growing Chinese Construction Market Through Two Strategic Actions

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name NewswireToday and LINK as the source.
 
Publisher Contact: Press Office - Metso.com 
+358 20 484 100 metso.info[.]metso.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Metso Corporation securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Metso Corporation / Company Profile


Read Energy Most Recent Related Newswires:

ABB Helps Maximize Energy Efficiency At Future Fossil-free Steel Pilot
Fermi Energia Starts Cooperation with the Major Energy Utility Fortum and Tractebel
Voith Hydro Awarded Single-source Contract for BC Hydro’s Bridge River Power House II Generator Replacement
ABB to Deliver the Power Supply for Europe’s Largest Battery Factory
ABB Selected by IONITY for Second Phase of European Charging Network Expansion
Imeon Energy Announces Compatibility of its Hybrid Solar Inverters with Dyness Energy Storage System
Rising Demand for Energy Efficiency Creates Growth Opportunities for Technologically Advanced Heat Exchangers Finds Frost & Sullivan
Enel Starts Operations of 450 MW Wind Farm in U.S. and Expands Project to 500 MW through New PPA with Danone North America
Energía del Pacífico Closes Financing on Largest Ever Foreign Direct Investment in El Salvador
ABB Completes Divestment of Two Electrification Joint Ventures in Shanghai
ABB and Equinor Sign Major Frame Agreement for Oil And Gas Operations Worldwide
ABB Wins Contract to Power Genting’s Next-generation Cruise Vessels
ABB Wins Framework Contract Worth over 0 Million to Strengthen Italy’s Power Grid
Voith is A Leading Member of the XFLEX HYDRO Project A New Initiative to Build a Resilient, Renewable Power System with Flexible Hydropower Technology
ABB Powers Pioneering Floating Solar Plant in Switzerland

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  Limelon Advertising, Co.





 
  ©2020 NewswireToday — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com newswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)