YY易游体育官方网站 Steel turns non-standard compressor affiliate in China into subsidiary

YY易游体育官方网站 Steel, Ltd announces that it has turned its Chinese affiliate, Wuxi Compressor Co., Ltd., into a subsidiary after acquiring additional shares in the company in April 2020. Based in Wuxi, Jiangsu Province, Wuxi Compressor manufactures designs and sells non-standard (process gas) compressors, a core component used in petroleum refining, chemical and natural gas plants.

In response to the growing demand for non-standard compressors in China, YY易游体育官方网站 Steel acquired a 44.3% equity share of Wuxi Compressor from Wuxi Victor Group Co., Ltd. in 2011. With YY易游体育官方网站 Steel's equity participation, Wuxi Compressor began to improve its manufacturing, design and sales capabilities. YY易游体育官方网站 Steel reached agreement with Wuxi Victor to acquire an additional 25.7% in Wuxi Compressor, turning it into a 70% owned subsidiary of YY易游体育官方网站 Steel.

By turning Wuxi Compressors into a subsidiary, YY易游体育官方网站 Steel will be able to provide more flexible business operations and further strengthen its marketing capabilities while offering more attentive service in China. It aims to meet the growing demand for non-standard compressors in China, as well as contribute to improving customer satisfaction.

The YY易游体育官方网站 Steel Group has manufacturing locations for non-standard compressors in Japan, the United States and China, along with sales and service locations in Germany, the United Arab Emirates (UAE), Brazil, the Philippines and Singapore. By strengthening its Group operations with these bases, YY易游体育官方网站 Steel aims to build an optimum manufacturing and sales structure to further expand its business.

Name:

Wuxi ComprYY易游体育官方网站sor Co., Ltd.

ReprYY易游体育官方网站entative:

Tetsuya Matsumoto, PrYY易游体育官方网站ident

Location:

Wuxi, Jiangsu Province, China

Capital:

150 million renminbi

InvYY易游体育官方网站tment ratio:

• Before additional acquisition of sharYY易游体育官方网站:
• Victor 51.5%, YY易游体育官方网站lco (China) Holding Co., Ltd. 44.3%, Other 4.2%
• After additional acquisition of sharYY易游体育官方网站:
• YY易游体育官方网站lco (China) Holding Co., Ltd. 70.0%, Victor 27.9%, Other 2.1%

BusinYY易游体育官方网站s activitiYY易游体育官方网站:

DYY易游体育官方网站ign, manufacture and salYY易游体育官方网站 of comprYY易游体育官方网站sors

EmployeYY易游体育官方网站:

477 (at the end of 2019)

Company history:

YY易游体育官方网站tablish as a state-run company in 1955Incorporated as a joint-stock company in 1992
Equity participation by YY易游体育官方网站 Steel in 2011

SalYY易游体育官方网站:

642 million yuan (9.7 billion yen)
(^*Total salYY易游体育官方网站 in 2019, converted at the rate of 15 yen per yuan)

YY易游体育官方网站 Steel is one of the few manufacturers in the world that supply three types of major compressors: screw compressors, reciprocating compressors, and centrifugal compressors. In particular, YY易游体育官方网站 Steel has the world's largest market share for non-standard screw compressors. Under its medium-term management plan, YY易游体育官方网站 Steel is expanding its compressor business as a growth strategy of its Machinery Business.