Schenck Process Acquires Shenyang Stock Electric Power Equipment
Schenck Process recently announced it has acquired all shares in Shenyang Stock Electric Power Equipment Co. Ltd. from Shenyang Electric. The joint venture was founded in 1993 between Shenyang Electric Power Machinery General Factory and the Stock Equipment Co., a Schenck Process Group subsidiary. Since then, it has reportedly become one of the major suppliers to China’s power industry, and its international presence continues to expand. In 2011, more than half of the products were exported to foreign countries.
“For us, the acquisition of Shenyang Stock Electric Power Equipment Co. represents an important step in our ongoing expansion to be a global supplier to the power plant industry,” said Jochen Weyrauch, Ph.D., president and CEO of Schenck Process. “It further strengthens our footprint in Asia, where we still see a lot of potential. Especially with our solutions for alternative fuels and the use of environmental controls, we are able to profit from the growth in this region.”
For additional information, visit www.schenckprocess.com.