The Agreement for XCMG's Acquisition of SCHWING Fully Signed

China’s largest leader in the industry of construction machinery - Xuzhou Construction Machinery Group, XCMG for short, is on its smooth path to purchase the world’s leading concrete equipment producer - German SCHWING Group Co. LTD, SCHWING for short. Currently, the two players are pressing ahead for official approval after their formal execution of all the agreements. No doubt, this means that the former shall be in charge of the latter and by which its core competitiveness and the overall strengths shall be skyrocketed to a fresh new stage. Thus the expected rapid development of concrete equipment of XCMG will help itself make inroads into the international markets for brand concrete equipment.
This is yet XGMG’s another acquired project from the world market, trailing buying deals of two European enterprises of components and parts. The hand-in-hand cooperation of XGMG and SCHWING marked yet another solid step of China’s efforts towards its construction machinery internalization.
XCMG is the largest and the most influential manufacturer in construction machinery industry of China with the fullest range of competitive products categories of its kind. Since its founding in 1989, the Group has kept its leading role in the China’s construction machinery industry. And in 2011， its annual revenues reached RMB 87.1 billion with an export of USD 1.08 billion, enabling its leadership in the industry of China. The dealers on the domestic market are well over 300 and that of the overseas counterparts more than 120. Currently, the Group ranks seven in the international domain of its kind in terms of scale, with both nine types of principal machinery and three basic components and parts and the sales share of the Truck_crane/ 'target='_blank' style='color:blue;'>Truck Cranes and the large-tonnage rollers toping the world list.
Established in 1934, SCHWING is a Germany-based famous world leader in the industry of concrete equipment with production bases all over the world including those in the US, Austria, India, Brazil, etc. and sales and service centers in such counties as France, the Netherlands, Austria, Czech Republic, Sweden and South Korea. Furthermore, the company boasts a team of business agents in more than 100 countries and its main business includes concrete making plants, Concrete Mixers, Concrete Pumps and concrete recycling sites, etc. With its sophisticated technology, the company has a wide range of products and thus is a global provider for the world’s top Concrete Machinery equipment and transmission scenarios.
Coupled with these mergers and acquisitions of two giants in a complementary manner, the domain of XCGM’s concrete equipment has made a substantial progress, which in turn, injected great vitality to its domestic leadership.

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