On the afternoon of 6th July German time, XCMG, China’s largest leading enterprise in the construction and machinery industry and Schwing, a leading German company in the global
Concrete Machinery industry, held the ceremony of the completion of stockholding rights transfer. Government officials from Xuzhou China and Nordrhein-Westfalen Germany, shareholders and corporate managers of XCMG and Schwing participated in the ceremony. After the completion of stockholding rights transfer, XCMG will have 52% of the holding rights of Schwing.
It is another international acquisition project after XCMG successfully acquired Germany’s FT and Holland’s AMCA. The cooperation between XCMG and Schwing, two giants in the construction and machinery industry, is of historic significance for Sino-Germany friendship, industrial cooperation and the development of global construction and machinery, which will form a growth plate at the value of around RMB 10 billion yuan.
This acquisition project is undertaken by XCMG Construction and Machinery Co., Ltd, focusing on the international market of middle and high-end complete set of concrete equipment. The successful acquisition will greatly enhance the core competitiveness and the overall strength of XCMG in this field so as to facilitate XCMG to rapidly develop its complete set of concrete equipment, achieve world-class in terms of technology, quality, product R&D and manufacturing, actively explore the international market and build an international brand for its complete set of concrete equipment. With the win-win cooperation, XCMG and Schwing will carry out more intimate strategic cooperation, implement resources integration and coordinated operation, optimize resources allocation, and share and utilize resources in the aspect of R&D, technology, purchasing, sales and financial leasing so as to create the largest synergy effects, further increase the competitive strength and the market share of the products of XCMG and Schwing, and achieve win-win development.
After XCMG’s acquisition, Schwing will try its best to maintain its original management team and teams of technology, R&D and manufacturing so as to ensure its stable transition and development. Mr Wang Min, President of XCMG said that with the cooperation of the two sides, XCMG and Schwing will tightly grasp the global opportunities, work together to reshape the global industry of
Concrete Machinery and facilitate XCMG to turn itself from China No. 1 to a world-class enterprise of construction and machinery.
XCMG is a large enterprise group in China’s construction and machinery industry with the largest scale, the most diversified products, the strongest competitiveness and the greatest influence. The history of the Main Engine Company of XCMG could date back to 1943. Since the establishment of XCMG in 1989, in the 23 consecutive years, XCMG has retained No. 1 in terms of company scale and turnover. In 2011, the operating revenue of XCMG was RMB 87 billion yuan, and its export amounted to $ 1.086 billion. At present, XCMG ranks No. 5 in the world in terms of company scale; nine types of the main engines of construction machinery and three types of key basic components have the largest market share in China; the sales of
Vehicle cranes and large tonnage
Road Rollers rank No. 1 in the world. XCMG boasts more than 300 Chinese distributors and nearly 200 international distributors, and its sales and service networks are located throughout the world.
Germany’s Schwing is a global leader in complete set of concrete equipment. Established in 1934, based in Herne Germany, Schwing has set up its production bases in US, India, Brazil and many other countries as well as sales and after sales centers in France, Holland, Austria, Czech, Swede and South Korea. In addition, XCMG has more than 189 distributors around the world. XCMG’s core business includes
Concrete Mixing Plants, concrete mixer
Trucks,
Concrete Pumps and concrete recycling plants. With a wide range of production lines and the state-of-the-art technologies, XCMG is a world class manufacturer and distributor of the
Concrete Machinery equipment.
XCMG and Schwing at the Ceremony of Completion of Shareholding Rights Transfer
Mr Zhu Min, Acting Mayor of Xuzhou Makes a Speech.
Mr Wang Min, President of XCMG Makes a Speech.
Mr Schwing Makes a Speech.
Guests Start the Crystal Ball of the Cooperative Project.
President Wang Min and Mr Schwing Representing XCMG and Schwing Company Respectively at the Signature Ceremony of the Completion of Shareholding Rights Transfer.
The two sides raise their glasses to the successful cooperation in the future.
President Wang Min and Mr Schwing at the Headquarters of Schwing Europe.
Acting Mayor Zhu Min and President Wang Min Watch the Performance of Schwing’s Pump
Truck Model.
Accompanied by President Wang Min, Mr Zhu Min, Acting Mayor of Xuzhou, visits Schwing’s Headquarters Plant in Germany.
