Metso and Guangxi LiuGong Group have established a 50%-50% joint venture to design and manufacture Metso’s Lokotrack mobile crushers and screens in the Chinese market.
Headquartered in Shanghai, Liugong Metso Construction Equipment (Shanghai) Co. Ltd. (LiuGong-Metso), will combine Metso’s crushing and screening business and technology with LiuGong's Chinese manufacturing capabilities and distribution resources—approximately 900 customer service locations.
The first products are expected to be launched during the first half of 2014. The products, whose range may be further expanded in the future, will be sold under dual branding: LiuGong Metso. The joint venture will also promote Metso's global track-mounted crushing and screening equipment in China. The value of the investment made in the new company will not be disclosed.
"The joint venture enables the capture of a significant market share of the fast growing mobile crushing and screening market in China," said João Ney Colagrossi, president, Mining and Construction for Metso. "Our target is to build a market driven technology offering and the joint venture with LiuGong is a major step towards this direction. Together with the acquisitions of the steel foundry in Quzhou City and Shaorui Heavy Industries Ltd., announced last year, the joint venture significantly strengthen our supply capabilities for mining and construction industries in China."