Every economic network: Sany Heavy Industry and PALFINGER promote internationalization

Source: Per Jing.com

Recently, Sany Heavy Industry (600031. SH) announced that it signed a memorandum of cooperation with the Austrian PALFINGER Group (hereinafter referred to as PALFINGER) on September 30, under which the company intends to invest approximately 108 million euros in PALFINGER by subscribing for newly issued PALFINGER shares and purchasing existing shares from the PALFINGER family, and the total number of shares held will be 10% of the total share capital (excluding treasury shares) after the issuance of new shares by PALFINGER. At the same time, Palfinger against TrinityTruck cranesMachinery Co., Ltd. and Zhejiang Sany Equipment Co., Ltd. increased their capital by 110 million euros, and each accounted for 10% of the shares of the two companies after the capital increase.

In 2012, Sany established two joint ventures with PALFINGER – Sany PALFINGER Special Vehicle Equipment Co., Ltd. (hereinafter referred to as PALFINGER) and PALFINGER Sany Truck Crane International Sales Co., Ltd. (hereinafter referred to as PALFINGER Sany), each holding 50% of the shares.

"The former (referring to Sany PALFINGER) is mainly aimed at the Chinese and global markets, research and development, production and sales of truck-mounted cranes and other special vehicle equipment, and the latter is mainly for Europe, CIS countries, the Americas and other international markets to sell Sany wheeled crane equipment." The person in charge of the Propaganda Department of Sany Heavy Industry introduced.

According to the data, PALFINGER was founded in 1932, and its leading products are truck knuckle boom cranes, accounting for 30% of the global market. PALFINGER has more than 4,500 sales and service centers worldwide, and 95% of its products are exported to 130 countries around the world. In 2012, PALFINGER employed 6,500 people worldwide and generated annual revenues of nearly 10 billion yuan.

"Working side by side with our Chinese partners will enrich us not only in our commercial operations, but also culturally and personally, from all perspectives." Hubert PALFINGER, Deputy Chairman of the Board of Directors of PALFINGER AG, believes.

Strengthening the cultural integration with international enterprises is exactly what Sany needs at present. Xiang Wenbo, President of Sany Heavy Industry, said, "Working with PALFINGER enables us to develop Sany's globalization from a Chinese perspective. We are very pleased with the success of the two joint ventures. The consolidation and expansion of our strategic partnership will make an important contribution to the future development of Sany. ”

Sany believes that the close cooperation with PALFINGER will consolidate the strategic partnership between the two sides, which is conducive to further the integration of the industrial chain and sales channels, expand the strategic cooperation between the two sides, enhance the technological innovation capabilities, international operation and management level of both parties and the international influence of the brand, and boost the company's internationalization process.

In recent years, Sany Heavy Industry has adhered to the strategy of building the world's best products, consolidating its industry position and actively promoting the pace of international development through independent innovation, mergers and acquisitions, and joint innovation.

As early as January 2012, Sany Heavy Industry and CITIC Industrial Investment Fund acquired 100% of the shares of Putzmeister (commonly known as "Elephant") in Germany, and has now realized the integration of technology, operation, marketing, informatization and other integration, consolidating the leading position of "the world's * 5655 concrete machinery manufacturer".

As of the first half of 2013, Sany Heavy Industry Concrete Machinery achieved a revenue of 11.087 billion yuan, ranking 5656 in the global industry, and excavation machinery achieved a revenue of 5.284 billion yuan, with a market share of 5656 in China, which is in the forefront of the world. In the field of lifting machinery, Sany Heavy Industry achieved revenue of 2.764 billion yuan in the first half of this year, and with the in-depth promotion of its cooperation with PALFINGER, Sany Heavy Industry's lifting machinery business is expected to reach a higher level.

In terms of overseas markets, in 2011, 2012 and the first half of 2013, Sany Heavy Industry's international business accounted for 6.75%, 18.66% and 24.63% of its total revenue respectively, ranking among the industry's most internationalized businesses. (Text/Yongbo)