10th Anniversary of Dragon and Elephant Dance! A new model of Sino-German cooperation



Picture丨Putzmeister headquarters

On May 3, 2022, Sany Heavy Industry celebrated its 10th anniversary of the acquisition of Putzmeister (referred to as Pumeyer). In the past ten years, Prometheus's business has maintained a benign operating state, profitability has continued to rise, management has been continuously improved, and future growth is expected, writing a good story of "dragon and elephant dancing together".

This company is well run by the Chinese

In 2012, Sany Germany, a subsidiary of Sany Heavy Industry, and CITIC Fund jointly invested 360 million euros to acquire 100% of Putzmeister's shares. This was the first successful case of a Chinese company acquiring a large German family business at that time, which changed the pattern of construction machinery in the world.

In the past ten years, Prometheus has achieved a magnificent transformation and developed into a global construction machinery enterprise with vigorous vitality and always adheres to the unique brand value, with its R&D and design, manufacturing, marketing and sales footprints covering Europe, the Americas, and the Asia-Pacific region.

Liang Wengen and Prometheus founder Karl Schlecht exchange gifts

In the past 2021, Prometheus' global sales exceeded 1,000 units, a new high in recent years, and its products were exported to 154 countries and regions.

In the past ten years, Prometheus' global sales have increased from 500 million euros in 2011 to more than 800 million euros in 2021, and its profitability has steadily increased, maintaining the first market share in the industry outside China, further consolidating its leading position in technology, quality, and high-end market.

The number of employees has also remained stable at around 3,000, and workers who had previously opposed the takeover no longer worry about losing their jobs and are even glad that they are much luckier than those in Germany that have been bought by companies from other countries.

After ten years of running-in, Prometheus has truly integrated into the big family of Sany. The two have joined forces to win nearly half of the market share in the global market and create a new world concrete machinery giant.

Melchers Raffel, which specializes in consulting on buy-and-sell transactions in German-speaking and Asian countries, believes that "it is clear that this company [Promethe] is very well run by the Chinese."

The chemical reaction of 1+1>2 accelerates the release

In the past ten years, Sany has made great strides in the use of Prometheus, a German platform, to draw advanced experience in internationalization, Industry 4.0, intelligent manufacturing, etc. Backed by the strong Sany, Prometheus has also obtained more financial and resource support for the development of new businesses.

Figure丨Pumai pump truck and Sany pump truck

In terms of product line, the two parties jointly launched the V8 series products, the "European version" 45-meter pump truck, etc., which are highly recognized by the market. Currently, more and more Prometheus products such as:Wet sprayer, mortar machine, industrial pump, belt distribution machine, etc., began to be sold to the Chinese market through Sany. High-quality Sany products are also going global through Prometheus' network.

In the face of the new challenges of the current green and intelligent development of the industry, the R&D teams of Prometheus and Sany have worked together to open up the second curve and work together to lead the new track of electrification, intelligence and digitalization.

At present, Prometheus has successively launched IoT machine data services, the world's first "hybrid" iONTRON pump truck, etc., and is committed to using big data to open up the whole value chain of concrete "production ➡, transportation ➡ and distribution", so as to improve equipment productivity, construction quality, and reduce energy consumption.

Compared with the growth of performance, Jiang Xiangyang, the representative of the chairman of Sany in Pumai, said that the more important significance of mergers and acquisitions is that it gives Sany the opportunity to observe leading international enterprises at close range, and has a deep understanding of the market requirements and corporate governance requirements of developed countries; This provides a very valuable reference for Sany's overseas growth and overseas local operation. In collaboration and cooperation, the ideas and cultures of both sides collide and influence each other, learn from each other's strengths, and grow better for each other.

At present, in the fields of personnel training and exchange, product technology collaboration, production technology and international norms, business development, etc., the cooperation between the two sides has been normalized, the synergy effect has been increasingly enhanced, and the chemical reaction of 1+1>2 has been accelerated.

It has changed the international image of Chinese capital

Sany won the "Outstanding Investment Award for Chinese Enterprises in Germany"

After ten years of careful operation, Sany has won the recognition and respect of the German society with sincerity and tangible performance, and the cooperation between the two sides has also become a model for Chinese enterprises to achieve mutual benefit and win-win results after acquiring German enterprises. Prometheus founder Karl Schlecht called it "a Sino-German exemplary deal", and Xiang Wenbo, chairman of Sany Heavy Industry, also believes that "this overseas acquisition has changed the international image of Chinese capital".

With its outstanding contribution to the German economy and society, Sany has won many honors such as "Outstanding Investment Award for Chinese Enterprises in Germany" and "Best Employer Award" during the ten years of investment in Germany.

The German Chinese Chamber of Commerce believes that Sany's acquisition of Prometheus has greatly improved the recognition of German enterprises to Chinese investors, and is the first climax of this round of Chinese investment since 2010, which has played a very positive role in the active consideration and implementation of internationalization strategies by many Chinese enterprises.

CCTV Finance also spoke highly of it, "This is the real sense of 'Sino-German technology integration', and it is also the meaning of 'The Belt and Road'."

At the 10th anniversary celebration ceremony, Xiang Wenbo said, "Through the efforts of all colleagues in Prometheus, our global market position has been stabilized and improved, the quality of enterprise operation has been well improved, and the social image of the company has made great progress."

"Sany will definitely fulfill the promise made at the time of the acquisition, run Putzmeister well, seize the opportunities given by the times, and make Sany people's contribution to the development and progress of human society."