Schuler Acquires Majority Stake in Chinese Press Manufacturer

BusinessDeals ♦ Published: June 23, 2015; 18:00 ♦ (Vindobona)

Schuler AG, a member of international technology Group Andritz, has signed a contract for the acquisition of a 51% stake in the Chinese press and machine tool manufacturer Yangzhou Metal Forming Machine Tool Co., Ltd. (Yadon). Yadon is a manufacturer of mechanical presses in China and has annual sales of approximately 120 million euros.

Andritz subsidiary Schuler acquires majority stake in Yadon, one of the leading press manufacturers in China / Picture: © Wikipedia / China 2 West

It was agreed not to disclose the purchase price.

The acquisition is subject to approval by anti-trust authorities.

Yadon is based in Yangzhou, Jiangsu Province, around 300 kilometers north of Shanghai, and has a staff of approximately 1,100 employees at three locations in China.

The main customer segments served by Yadon include the automotive supplying, household…