HQ Asia Pacific HQAP, a private equity and venture capital firm, announced Wednesday that it has paid around $45 million for 43.3% of Yuchai Engineering Machinery, a mid-sized company specialising in small excavators based in ChinaÆs Guangxi province.
ôThe construction boom in China makes excavators good business, and Yuchai Engineering is the market leader within China in the small excavator sector. We are confident that past growth rates of more than 30% on both the bottom and top lines will continue,ö says Ta-lin Hsu, chairman of HQAP, who did not divulge Yuchai's revenue figures.
Yuchai Engineering is a subsidiary of...
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