Schuler to acquire majority stake in Chinese press manufacturer

Göppingen, Germany-based press manufacturer Schuler AG has signed an agreement to acquire a majority stake of at least 51 percent in Chinese machine tool manufacturer Yangzhou Metal Forming Machine Tool Co. Ltd. (Yadon).

“China is our fastest-growing sales market and the world’s largest market for presses,” said Schuler CEO Stefan Klebert. “By acquiring a stake in Yadon, we will gain access to a large group of Chinese customers who we previously hadn’t served.”

At its facilities, Yadon produces mechanical presses for metal forming processes. Its clients include major Chinese companies in the automotive supply industry, as well as manufacturers of heat exchangers for air-conditioning units and suppliers of electric motors.