Chinese heavy industry enterprises set up factories in Germany and spent 100 million euros to welcome the local community

Special correspondent in Germany, Zhou Jun

According to an investment agreement signed last Thursday by China's Sany Heavy Industry, Sany will spend 100 million euros to build a factory to produce construction equipment, as well as an R&D center and a training base in the western German state of North Rhine-Westphalia.
This will be the *5655 factory set up by a Chinese company in Europe.
In recent years, China's heavy industry has developed rapidly, according to Sany Heavy Industry, "the share of local enterprises in the construction machinery industry has 50%-60%". In addition, China is developing into the world's *5655 shipbuilding base, which undoubtedly highlights the status of China's heavy industry in the world, and due to the high correlation with China's national investment and infrastructure construction, there will be good opportunities for heavy industry enterprises, and there will be "opportunities for overseas industry integration".
Sany Heavy Industry has been brewing this project since last year, and the European R&D center and machinery manufacturing base built in Germany will cover the entire European market. After the project is put into operation, it is planned to produce 3,000 construction machinery products annually, and is expected to achieve annual sales revenue of 350 million euros, a total profit of 48.02 million euros, an investment profit margin of 27.75%, and an investment payback period of 6.93 years. Since the company's main components such as automobile chassis, oil pumps, and engines are mainly purchased from Europe, the company has established a manufacturing base in Europe and sold locally, which can save high round-trip transportation costs and expand its European market share.
This investment by Sany is also of great significance to the local economy. In North Rhine-Westphalia, Germany's main industrial base, Minister of Economy Christa Thoben, said at a press conference on October 28 last year that the new company opened by Sany Heavy Industry in North Rhine-Westphalia will meet the needs of hundreds of local workers, "in the current recession of the entire market economy, it is undoubtedly a special celebration for us". According to a report by Agence France-Presse on January 30, North Rhine-Westphalia, which is "densely populated in Germany", believes that the project will create many jobs in Germany, which is in the throes of the deepening financial crisis. Gunnar Koerdt, a local official, also believes that the new company set up by Sany Heavy Industry will greatly improve the local economic environment, attract more enterprises in related industries to invest, drive the development of other industries, and provide training bases, solve labor employment, also increase urban tax revenue, and will also drive the development of the cross-regional economy of surrounding cities, so "it has practical significance and special role at present, and will improve our economic competitiveness in the long run." I am personally very happy".
In this regard, the Frankfurter Allgemeine Zeitung said that China's participation in saving the global financial crisis is a good thing. According to the report, "China is not only a partner for us, but also our competitor", but neither Germany, France, nor the United Kingdom will have a significant impact on China, and only when all countries of the European Union work together will the *5654 solution be sought.

Source: Global Times