Sany Heavy Industry
“Market Cap $6.93 B As of May 2014
At a Glance
- Industry: Heavy Equipment
- Founded: 1994
- Country: China
- CEO: Xiang Wenbo
- Website: www.sany.com.cn
- Employees: 34,887
- Sales: $5.79 B
- Headquarters: Changsha
#1396 Global 2000
- #1506 in Sales
- #1264 in Profit
- #1656 in Assets
- #1485 in Market value
#85 Innovative Companies (2012) (#72 in 2011)
Asia’s Fab 50 Companies (2012)
Sany Heavy Industry Co. Ltd. engages in manufacturing and selling of construction engineering machineries, heavy lifting machineries, parking warehouse, common equipment, mechanical and electrical equipment, metal products and electronic products. The company’s activities include selling of metal and policy permitted mining products and metal materials, manufacturing and selling of bus, the provision of construction engineering machineries leasing service, operation of construction used machineries exchanged with new machineries, exporting of mechanical and electronic products and importing of raw materials, mechanical machineries, apparatus, meters, spare parts and related technologies. It mainly engages in R&D, manufacture, and distribution of engineering machinery types such as construction machinery, road construction machinery, and hoisting machinery. Its products include the concrete pump, truck mounted concrete pump, concrete batching plant, asphalt batching plant, roller, asphalt paver, motor grader, truck crane, crawler crane, of which the market shares of truck mounted concrete pump, concrete pump, and full hydraulic roller stand and the production of pump truck stand. Sany was founded on November 22,1994 and is headquartered in Changsha, China.“
“Sany Heavy Industry History
The origins of Sany lie in Lianyuan Welding Material Ltd, a company founded in 1986 by Liang Wengen, Tang Xiuguo, Mao Zhongwu and Yuan Jinhua, who left their previous jobs and first established the company with a capital of sixty thousand yuans in the town of Maotang, county-level city of Lianyuan.
In 1991 Lianyuan Welding Material Ltd. was officially renamed Sany Group Co., Ltd. and its headquarters were officially moved to Changsha. Since then, the company has experienced continuous rapid growth (at an annualized rate of around 50%), spurred byChina’s economic boom, specifically growth in its construction sector.
Sany Heavy Industry Co., Ltd was founded in 1994 as a subsidiary of the Sany Group. Sany Heavy Industry went public on theShanghai Stock Exchange on July 3, 2003. In June 17, 2005, the company conducted the split share structure reform and realized full circulation of its shares. After this event, its market cap started growing at a very fast rate, jumping from a total of RMB 4 million yuan in 2005 up to a total of RMB 137 million yuan in June 2011.
Since its foundation, the headquarters of Sany have received official visits from several political leaders, including Hu Jintao and Wen Jiabao. During his visit on October 3, 2003, said to Sany personnel: “You have made splendid achievements in the past. Hope you unite as one to create a better future!”.
In 2010 the operating income of Sany reached just under 34 billion RMB, a 79% year-on-year increase.
During the 2010 Copiapó mining accident, a crane manufactured by SANY was used in rescuing the Chilean miners. A pump from the company was donated to the Tokyo Electric Power Company to assist with the emergency response to the Fukushima I nuclear accidents.
In 2011, Sany signed several contracts to open new manufacturing centers, the most important of them include the Zhuhai and Lingang New City centers, and the fifth international equipment plant in Indonesia, the latter with an investment of US$200 million.
In January 2012 Sany agreed to acquire a 90 per cent stake in Putzmeister, a Germany-based manufacturer of concrete pumps, for €324 million, with Citic PE Advisors (Hong Kong) Ltd. agreeing to purchase the balance of 10 per cent.
In February 2012, Sany and the Austria-based Palfinger announced a market venture to make and sell mobile cranes, a project with a total investment of $143 million, plus the construction of a sales unit in Salzburg for $5.4 million.
In 2012, through affiliate Ralls Corp., Sany acquired four wind farm projects in Oregon. Later in the year, though, the Obama Administration ordered the wind farms divested after it was determined their location next to the Naval Weapons Systems Training Facility in Boardman, Oregon represented a national security risk. The divestiture—the first of its kind since 1990—was ordered by the US Treasury Department, which chairs the interagency Committee on Foreign Investment.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “Jorge Rodriguez“