Kobe Steel Acquires Majority Share Of Wuxi Compressor Co.
Gascompressionmagazine - Kobe Steel Ltd. has acquired a majority share of Wuxi Compressor Co. Ltd., turning the Wuxi, China, based company into a subsidiary. Wuxi Compressor manufactures, designs, and sells non-standard (process gas) compressors, a core component used in petroleum refining, chemical, and natural gas plants.
Kobe Steel acquired a 44.3% equity share of Wuxi Compressor from Wuxi Victor Group Co. Ltd. in 2011. In April 2020, Kobe Steel reached an agreement with Wuxi Victor to acquire an additional 25.7% in Wuxi Compressor, creating a 70% owned subsidiary of Kobe Steel.