Burckhardt Compression, the Swiss manufacturer of compressor systems and a service provider for LNG and other markets, has continued its global expansion by signing a final contract agreeing to acquire the 40 percent of Chinese company Shenyang Yuanda Compressor it didn’t already own.
The contract to own all of Shenyang Yuanda Compressor, based in Shenyang in the northeast Liaoning Province of China, was signed on January 25, 2021 and closing was expected in early February.
Burckhardt had announced the signing of a memorandum of understanding on buying the remaining shares back in September 2020 .
The company, based in Winterthur, central Switzerland, had owned 60 percent of Shenyang Yuanda Compressor since May 2016.
Burckhardt has been expanding in. the sector and had previously taken over US and Japanese companies. US subsidiary Arkos Field Services was fully acquired in November 2019.
Burckhardt also in April 2020 completed a deal to acquire the global compressor business of Japan Steel Works Ltd.
Shenyang Yuanda employs around 650 employees in China and generated sales of about 100 million Swiss francs ($112.6M) in 2019.
“Since the initial interest in Shenyang Yuanda Compressor, the company has expanded into more segments of the market, the product portfolio has been broadened to address a wider range of market needs, and Burckhardt has gained direct access to a well-established local supply chain,” said the company.
“Compressors manufactured by Shenyang Yuanda have been available in selected export markets through the international distribution and sales channels of Burckhardt since 2019,” it added.
Burckhardt offers a variety of compressor solutions for fuel gas compression that have been specifically designed for marine applications.
Its M-Type Electronically Controlled-Gas Injection (ME-GI) compressor systems are designed for boil-off gas management on LNG carriers equipped with MAN Energy Solutions ME-GI two-stroke engines.
Burckhardt also provides its Laby brand compressors for LNG carriers with X-DF propulsion systems and other marine compressors for vessels such as bunkering ships.
