Burckhardt Compression has signed a contract to acquire the remaining 40% of Shenyang Yuanda Compressor.
Based in Shenyang, China, Shenyang Yuanda Compressor employs approximately 650 employees in the country and generated sales of around CHF 100 million ($112m) in 2019.
Burckhardt Compression has owned 60% of Shenyang Yuanda Compressor since May 2016.
According to a statement released yesterday (25th Jan), the shares were transferred with retrospective effect from 1st Jan 2021, meaning that Shenyang Yuanda Compressor’s total net profit from then is attributable to the shareholders of Burckhardt Compression.
Closing of the deal is expected within the next two weeks. The purchase price was not disclosed.