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SCHULER AG: Schuler acquires majority stake in Chinese press manufacturer Yadon
DGAP-News: SCHULER AG / Key word(s): Mergers & Acquisitions
SCHULER AG: Schuler acquires majority stake in Chinese press
manufacturer Yadon
23.06.2015 / 12:24
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PRESS RELEASE
Schuler acquires majority stake in Chinese
press manufacturer
Joint venture with Yadon sealed - access to dynamic mid-market segment.
Göppingen, June 23, 2015 - The press manufacturer Schuler AG has acquired a
majority shareholding in the Chinese machine tool manufacturer Yangzhou
Metal Forming Machine Tool Co., Ltd. (Yadon) and thus strengthened its
position in the world's most important growth market for machine tools.
This was announced by Schuler's CEO Stefan Klebert in Göppingen on June 23,
2015.
Schuler has signed an agreement to purchase a majority stake of at least 51
percent in Yadon. There is also an option to increase this shareholding.
Both sides have agreed not to disclose the purchase price, which Schuler
will finance from its own funds. The current management team and some
employees will continue to hold a stake in the joint venture. The
cooperation is still subject to approval by the relevant anti-trust
authorities.
"China is our fastest growing sales market and the world's largest market
for presses. By acquiring a stake in Yadon, we will gain access to a large
group of Chinese customers who we previously hadn't served," stated
Klebert.
With around 1,100 employees, Yadon generated revenue of approximately EUR
120 million in 2014. Founded in 1958, the majority of the company's shares
are held privately. Yadon is one of China's leading press manufacturers.
The company's main base is located in Yangzhou, Jiangsu Province, 300
kilometers north of Shanghai.
At its three facilities, Yadon produces mechanical presses for metalforming
processes, such as C-frame presses, blanking presses and tie rod presses.
"These will expand Schuler's product portfolio in the medium and lower
price segments," added Klebert. Yadon's clients include major Chinese
companies in the automotive supply industry, as well as manufacturers of
heat exchangers for air conditioning units, suppliers of electric motors,
PRESS RELEASE
Schuler AG
Bahnhofstraße 41
73033 Göppingen
Germany
Ingo Schnaitmann
Corporate Communications
Tel.: +49 7161 66-201
Fax: +49 7161 66-907
Ingo.schnaitmann@schulergroup.com
www.schulergroup.com/pr
Schuler acquires majority stake in Chinese
press manufacturer
Joint venture with Yadon sealed - access to dynamic mid-market segment.
Göppingen, June 23, 2015 - The press manufacturer Schuler AG has acquired a
majority shareholding in the Chinese machine tool manufacturer Yangzhou
Metal Forming Machine Tool Co., Ltd. (Yadon) and thus strengthened its
position in the world's most important growth market for machine tools.
This was announced by Schuler's CEO Stefan Klebert in Göppingen on June 23,
2015.
Schuler has signed an agreement to purchase a majority stake of at least 51
percent in Yadon. There is also an option to increase this shareholding.
Both sides have agreed not to disclose the purchase price, which Schuler
will finance from its own funds. The current management team and some
employees will continue to hold a stake in the joint venture. The
cooperation is still subject to approval by the relevant anti-trust
authorities.
"China is our fastest growing sales market and the world's largest market
for presses. By acquiring a stake in Yadon, we will gain access to a large
group of Chinese customers who we previously hadn't served," stated
Klebert.
With around 1,100 employees, Yadon generated revenue of approximately EUR
120 million in 2014. Founded in 1958, the majority of the company's shares
are held privately. Yadon is one of China's leading press manufacturers.
The company's main base is located in Yangzhou, Jiangsu Province, 300
kilometers north of Shanghai.
At its three facilities, Yadon produces mechanical presses for metalforming
processes, such as C-frame presses, blanking presses and tie rod presses.
"These will expand Schuler's product portfolio in the medium and lower
price segments," added Klebert. Yadon's clients include major Chinese
companies in the automotive supply industry, as well as manufacturers of
heat exchangers for air conditioning units, suppliers of electric motors,
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