May 13, 2016 | Ad hoc announcement pursuant to Art. 53 LR
Acquisition of Majority Stake in Shenyang Yuanda Compressor Co., Ltd. completed
Burckhardt Compression completed the acquisition of a 60% stake in Shenyang Yuanda Compressor Co., Ltd. as announced on March 11, 2016. Shenyang Yuanda is the leading reciprocating compressor manufacturer in China.
With this acquisition, Burckhardt Compression strengthens its position in China and broadens the product portfolio. Shenyang Yuanda Compressor is covering local market segments like Refinery or Coal Chemical with well positioned product lines on top of Burckhardt Compression’s current business in China. Shenyang Yuanda Compressor achieved in 2015 sales of CHF 110 million with 650 employees and is fully focused on the development, manufacturing and service of reciprocating compressors.
All formalities of the transaction have been settled and the Chinese authorities have given the necessary approvals for the announced acquisition.