Austria-headquartered Andritz has officially acquired 51% of the equity of China-based Baoding Sanzheng Electrical Equipment, Kallanish learns.
According to Andritz, the transaction was concluded in December. Andritz views this move as an important part of strengthening its position as a “comprehensive solutions provider for steel processing, in particular electrical steel”.
Sanzheng focuses on power electronics technology and provides comprehensive solutions for the induction heating field. It is located in Hebei Province, China’s largest steel-producing province.
Andritz states that Sanzheng’s annual revenue is approximately €30 million ($34.84m). This represents only 0.36% of Andritz’s revenue in 2024.
The technology supplier adds: “Sanzheng will continue to operate under its existing name and management structure, ensuring business continuity for customers and partners.”
