German press manufacturer Schuler AG acquired a majority share in Chinese machine-tool manufacturer Yangzhou Metal Forming Machine Tool Co. Ltd. (Yadon). It is believed the acquisition will strengthen Schuler’s position in the important Chinese market. Schuler’s CEO, Stefan Klebert, announced the agreement to purchase a stake of at least 51% of the company with an option to increase this holding. At its three facilities, Yadon produces mechanical presses for metal-forming processes, such as C-frame presses, blanking presses and tie-rod presses. Yadon’s clients include major Chinese companies in the automotive supply industry, as well as manufacturers of heat exchangers for air conditioning units, suppliers of electric motors and the entire metalworking industry.