Sany Heavy to establish manufacturing base in Sao Paulo

Sany Heavy Industry Co., China's biggest maker of equipment for handling concrete, announced yesterday that the company has reached an intent agreement with Brazil's Sao Paulo state government to invest 200 million U.S. dollars on setting up a manufacturing base there.

The manufacturing base is planned to produce excavators, crawler cranes and other construction machinery products, whose annual sales is expected to hit 500 million U.S. dollars within 5 years, and 2 billion U.S. dollars in 10 years.

It will be Sany’s fourth overseas manufacturing base. Prior to this, Sany has set up factories in Germany, India and the U.S. Local media reported that the Sao Paulo manufacturing base is a priority for Sany's overseas expansion. A “four member team” of high executives was sent to Brazil on February 15.

Sany will start the construction of the R&D and manufacturing base in Sao Paulo state after the final cooperation agreement is signed.

The company also stressed that the investment plan would be implemented after governmental approval.

By People's Daily Online