Peikko to become majority shareholder of Chinese structural design company Shucko
Peikko Group Corporation has signed an agreement with Chinese structural design company Shanghai Shucko Construction Technology Co., Ltd. to become a majority stakeholder of the company with 51% ownership. The transaction consisted of a share purchase from a single shareholder, and additional share capital issued to Peikko. The two remaining shareholders, Mr. Huang Hua and Mr. Wang Chen, will continue to run the business as before.
The company Shucko has offices in the cities of Shanghai and Hefei and focuses on providing structural engineering and detailing services of precast frames. There are 16 engineers working for Shucko, helping both precasters and construction companies with their precast design. The future cooperation between the Shucko and Peikko teams in China will provide benefits for customers via improved detailing services and technical customer support. The company Shucko will remain as an independent entity from other activities of Peikko China, which has a factory in the city of Zhangjiagang (north of Shanghai) and sales teams in several locations.
“We are very happy to join forces with the competent structural design team at Shucko. The use of precast construction is increasing rapidly in China, and we are confident that the teams within Shucko and Peikko China, together will be able to grow the business rapidly in the coming years”, says Topi Paananen, CEO of Peikko Group Corporation.
“We have cooperated with Peikko China since early 2021 and are excited to join forces. With Shucko’s design & detailing competence and Peikko’s product competence, customers are able to use the most efficient systems in the marketplace”, comments Mr. Huang Hua and Mr. Wang Chen, Peikko’s partners at Shucko.
Further information:
Topi Paananen, CEO, Peikko Group Corporation
Mobile +358 50 384 3001, email topi.paananen@peikko.com
Michal Horak, Vice President, APAC, Peikko Group Corporation
Mobile +86 186 0628 7923, email michal.horak@peikko.com
Peikko Group in brief
Peikko Group Corporation is a leading global supplier of slim floor structures, wind energy applications, and connection technology for precast and cast-in-situ construction. Peikko’s innovative solutions offer a faster, safer, and more efficient way to design and build. Peikko has sales offices in over 30 countries in Asia-Pacific, Europe, Africa, the Middle East, and North America, with manufacturing operations in 12 countries. Peikko generated a turnover of EUR 255 million in 2021. Peikko is a family-owned and managed company that employs over 2,000 professionals. Peikko was founded in 1965 and is headquartered in Lahti, Finland. Further information: http://www.peikko.com.
