April 16, 2012
Sany Group will complete the marketing network and service platform in Chongqing in 2012 after the purchase of German construction machinery giant Putzmeister at a price of 360 million euros, as well as plan to set up production assembly shops in Dadukou District, according to the Group on April 15, 2012.
Sany Group is the largest domestic construction machinery manufacturer, while German Putzmeister is the No. 1 brand of global concrete machinery. Sany signed the merger agreement with Putzmeister at the beginning of 2012, and released the news the other day that Sany bought 100% shareholding of Putzmeister together with the minority stockholder Citic Private Equity Funds Management Co., Ltd. (CITIC PE) with 360 million euros.
Chongqing Guobin Construction Machinery Co., Ltd., the exclusive agent of Sany in Chongqing, says that Chongqing is the portal of the opening-up western China, they speak highly of the market in Chongqing, and the Group will further complete the marketing network and service platform in Chongqing, also plan to set up its production assembly shops in Dadukou Jianqiao Industrial Park.