Japanese steel manufacturer Kobe Steel has turned its Chinese affiliate Wuxi Compressor into a subsidiary after acquiring additional shares in the company.
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, Kobe Steel acquired a 44.3% equity share of Wuxi Compressor from Wuxi Victor Group in 2011.
With Kobe Steel’s equity participation, Wuxi Compressor began to improve its manufacturing, design and sales capabilities.
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