The Austrian-headquartered Andritz company has officially acquired a 51% stake in the Chinese company Baoding Sanzheng Electrical Equipment, Kallanish reports.
According to Andritz, the deal was completed in December. Andritz considers this step as an important part of strengthening its position as a "supplier of integrated solutions for steel processing, in particular electrical engineering".
Sanzheng Company specializes in power electronics technologies and offers comprehensive solutions for induction heating. It is located in Hebei Province, China's largest steel-producing province.
Andritz claims that Sanzheng's annual income is about 30 million euros ($34.84 million). This represents only 0.36% of Andritz's revenue in 2024.
The technology provider adds, "Sanzheng will continue to operate under its existing name and management structure, ensuring business continuity for customers and partners."
Author: Kallanish Asia
Kallanish.com
