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Sany Heavy Industry to purchase Putzmeister

www.chinaspv.com: Sany Heavy Industry, the biggest China engineering mechanism manufacturer, declared with German Putzmeister that they have agreed to merge their business after examination and verification by the themes department.

Sany will fully purchase Putzmeister after merging. Putzmeister was created by two companies of their owner KarlSchlecht, in which Karl Schlecht Gemeinnützige Stiftung helds 99% shares and Karl Schlecht Familienstiftung holds 1%.

As a world well-known engineering mechanism manufacturer, Putzmeister is leading on making cement mixer trucks, and their market shares are always over 40%, and 90% of their sales revenues are from overseas markets, more than 110 countries. Their annual sales revenues were 0.57 billion euro last year.

Sany is the sixth biggest engineering mechanism manufacturer in the world, and they have more than 70,000 employees among 150 countries, and their sales revenues exceeded 50 billion Yuan in 2010.

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