Finnish, Chinese machinery companies establish joint venture

LiuGong predicts its construction machinery business will grow in 2014, despite fierce competition at home and abroad. [Huo Yan / China Daily]

HELSINKI - In a most recent move to explore Chinese market, Metso Group, a global provider of mining and construction technology and services, has established a joint venture with Guangxi LiuGong Group Co Ltd (LiuGong) of China, Metso said on Monday.

The 50 percent- 50 percent joint venture, named Liugong Metso Construction Equipment (Shanghai) Co Ltd (LiuGong-Metso), will combine Metso's know-how in track-mounted crushing and screening business and technology with LiuGong's extensive distribution resources.

According to Metso, the design and manufacture of localized versions of Metso's Lokotrack mobile crushers and screens will be launched during the first half of 2014. In the future, the joint venture will also promote Metso's global track-mounted crushing and screening equipment in China.

Helsinki-headquartered Metso has nearly 29,000 employees in more than 50 countries and regions worldwide.

LiuGong Group Corp Ltd, founded in 1958 in Liuzhou, China, is the world largest wheel loader manufacturer, offering a full line of machines, including wheel loaders, bulldozers, backhoes, skid steers, forklifts, graders, excavators, rollers and others.

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