久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

US EUROPE AFRICA ASIA 中文
Business / Companies

Zoomlion speeds up overseas expansion

By Li Fangfang in Changsha (China Daily) Updated: 2012-09-28 09:45

The construction equipment maker Zoomlion Heavy Industry Science & Technology Development Co Ltd is speeding up its overseas expansion as the domestic market stagnates amid the economic slowdown.

Zoomlion speeds up overseas expansion

"We hope that our business in overseas markets will contribute 30 percent of our total annual revenue by 2015, up from less than 10 percent now," said He Wenjin, vice-president of Zoomlion and general manager of its overseas business branch.

According to He, Zoomlion's revenue from abroad increased 87 percent in the first half of 2012.

As China's total excavator exports rose 60 percent in the first half, Zoomlion led the sector with a growth of more than 300 percent year-on-year.

Zoomlion's first and fundamental priority will be on its sales network around the world.

Related reading: Zoomlion sets up overseas JV with Indian partner

"Zoomlion has set up offices, sales dealers, and parts supply operations in more than 60 countries to support our exports," said He.

Although exports are still the priority in Zoomlion's overseas expansion, He said the company has entered the next stage, which is investing in manufacturing, and cooperating with partners in some developing countries, after the brand is established.

In August, Zoomlion said that it clinched a deal with India's largest industrial crane maker, ElectroMech to set up a joint venture plant - Zoomlion's first direct investment in an overseas factory.

The plant, 70 percent owned by Zoomlion, will start production in early 2013.

"We hope the joint venture plant, which specializes in the production of tower cranes, will achieve $50 million in annual sales in five years and get more than 50 percent of the local market share," said He.

India - with a tower crane industry that had of $93 million in revenue in 2011 - plans to invest $1 trillion, or 10 percent of its GDP, in infrastructure construction over the next five years. Industry insiders expect the sector to maintain an annual growth rate of more than 20 percent in the next decade.

Zoomlion has a long-term strategy in the Indian market and plans to invest $100 million to boost the development of its business in India in the next few years.

"We are also preparing another production facility in Brazil, which is likely to be a fully owned project," said He. "Emerging markets in Africa, Asia and South America will be our priority over the next years."

The Shenzhen and Hong Kong-listed company will also continue looking for overseas M&A opportunities, targeting struggling players in developed countries.

"We want to take over brands, technologies, distribution networks and management ideas through acquisitions," said He.

In 2008, Zoomlion, which will celebrate its 20th birthday at the end of the month, acquired the Italian concrete machinery producer Compagnia Italiana Forme Acciaio SpA, with Goldman Sachs and two other investors, for 271 million euros ($348.81 million), to gain a foothold in the European market and boost overseas sales.

The Chinese government's tighter monetary policy, which was adopted last year, has cooled the domestic construction boom. In the first half, the total sales revenue of the construction machinery industry dropped about 20 percent year-on-year.

According to the China Machinery Industry Federation, orders received by major companies declined 0.95 percent year-on-year, compared with a 20 percent growth in the same period in 2011.

The declining market has made players more interested in overseas opportunities.

Sany Heavy Industry Co Ltd - Zoomlion's biggest rival - in July spent 8.1 million euros to acquire Intermix GmbH, a German truck mixer maker.

lifangfang@chinadaily.com.cn

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产精品99久久久久久宅男 | 2018久久久国产精品 | 午夜影院美女 | 欧美毛片日韩一级在线 | 欧美一级毛片欧美毛片视频 | 欧美日韩精品在线视频 | 思思91精品国产综合在线 | 免费成人在线网站 | 日本乱人伦毛片 | 亚洲国产精品久久久久久网站 | 久草在线国产 | 最新福利片v国产片 | 亚洲b| 欧美一区不卡二区不卡三区 | 香蕉成人国产精品免费看网站 | 巨大热杵在腿间进进出出视频 | 国产成人成人一区二区 | 久久伊人热 | 日韩特级黄色片 | 国内自拍第五一页 | 精品成人免费视频 | 成人永久免费视频网站在线观看 | 太平公主三级dvd | 日韩欧美视频在线一区二区 | a级毛片免费观看视频 | 亚洲成av人在线视 | avav男人天堂 | 男女乱淫真视频免费一级毛片 | 国内自拍视频在线播放 | 欧美日韩一区二区视频图片 | 国产成人免费高清激情视频 | 一区二区三区免费视频播放器 | 成人美女网 | 国产亚洲在线 | 一区二区三区四区在线 | 男人把女人桶到喷白浆的视频 | 国产三级欧美 | 国产亚洲精品高清在线 | 午夜日韩 | 男女同床爽爽视频免费 | 成人爱爱网站在线观看 |