The Finnish construction specialist 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, according to this press release.
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. 16 engineers are 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.