Switzerland-based gas compression solutions company Burckhardt Compression has successfully completed its acquisition of Shenyang Yuanda Compressor.
With the completed acquisition, Shenyang Yuanda Compressor now becomes a 100% subsidiary of Burckhardt Compression.
Burckhardt Compression has owned 60% of Shenyang Yuanda Compressor since May 2016.
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.
“All formalities of the transaction have been settled and the Chinese authorities have given the necessary approvals for the announced acquisition,” Burckhardt said in a statement.