Latest News:  
Beijing   Sunny    -3 / -12   City Forecast

People's Daily Online>>China Business

China's construction equipment giant Sany to take over German Putzmeister

(Xinhua)

09:01, February 01, 2012

Liang Wengen (L), chairman of Sany Heavy Industry, shakes hands with founder of Putzmeister Karl Schlecht in Changsha, capital of central China's Hunan Province, Jan. 31, 2012. China's construction equipment giant Sany Heavy Industry, found in 1989 and based in Changsha, is to take over Putzmeister, a German engineering firm, in a 360-million-euro deal, the company said in a statement posted on Shanghai Stock Exchange's website on Jan. 29, 2012. According to the statement, Sany's wholly-owned subsidiary Sany Germany GmbH will pay 324 million euros to own 90 percent of Putzmeister's shares. The remaining 10 percent would be purchased by China's Citic Funds, said the document, endorsed by all 12 board members who attended the company's executive board meeting on Jan. 20. Putzmeister, founded in 1958, is a family-owned firm based in Aichtal. It employs 3,000 people and reported an estimated annual revenue of 560 million euros last year. (Xinhua/Long Hongtao)
Email|Print|Comments(Editor:雪萌)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Let's enjoy skiing in Davos, Switzerland

  2. Traditional "Nuo" dance in E China

  3. Twist in the tale for 'scattered' farmers

  4. Crowds pack labor market after festival

Most Popular

Opinions

  1. A reality check on lunar new year
  2. Riding the tide of the times
  3. EP should get fully involved in EU decision making
  4. How can Europe avoid "a lost decade?"
  5. China's success here to stay
  6. Pakistan, Afghanistan set to break deadlock
  7. Bias against China human rights "deeply rooted"
  8. Are gold prices nearing end of its upward trend?
  9. Six-party talks should not be shelved
  10. Downplaying Iran nuclear issue not a good sign

What's happening in China

Cold, foggy weather hits parts of China

  1. China regrets WTO ruling on raw material exports
  2. Younger migrant workers hope to settle in cities
  3. Private online lending deserves credit
  4. More visitors visit Tibet for Spring Festival
  5. New QFII tax rules set to be published

PD Online Data

  1. Yangge in Shaanxi
  2. Gaoqiao in Northern China
  3. The drum dance in Ansai
  4. Shehuo in Baoji City
  5. The dragon dance