Schuler, a member of international technology Group Andritz, has signed a contract for the acquisition of a 51% stake in the Chinese press and machine tool manufacturer Yangzhou Metal Forming Machine Tool Co., Ltd. (Yadon). It was agreed not to disclose the purchase price. The acquisition is subject to approval by anti-trust authorities.
Yadon is based in Yangzhou, Jiangsu Province, around 300 kilometers north of Shanghai, and has a staff of approximately 1,100 employees at three locations in China. The main customer segments served by Yadon include the automotive supplying, household appliances, and metal working industries in Eastern China. The investment in Yadon extends Schulerʼs product portfolio in the middle and lower price segments and provides access to a customer base not yet served in China, the largest market in the world for presses.