Burckhardt Compression signed the agreement to acquire a 60% stake in Shenyang Yuanda Compressor Co., Ltd., the leading reciprocating compressor manufacturer in China.Shenyang Yuanda Compressor Co., Ltd. achieved sales of CHF 110 million in 2015 with 650 employees. With this acquisition Burckhardt Compression gains local market reach in additional market segments, expands its product portfolio to cover the diverse market requirements and gets direct access to a well-established local supply chain. Closing is scheduled to take place in April/May 2016. Both parties agreed not to disclose any further terms of the acquisition agreement.
On March 10, 2016 Burckhardt Compression signed an agreement for the acquisition of a 60% stake in Shenyang Yuanda Compressor Co., Ltd. (Shenyang Yuanda) with Mr. Ren Xiwen, the majority shareholder and founder of the company. Closing of the transaction is expected in April/May 2016. Shenyang Yuanda, established in 1997, is the leading reciprocating compressor manufacturers in China fully focused on the development, manufacturing and service of reciprocating compressors.
After closing of the transaction, Shenyang Yuanda and its brand will remain and will be part of the Burckhardt Compression Group. Ren Xiwen, President and founder of Shenyang Yuanda will remain General Manager and a board member of Shenyang Yuanda.
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