日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

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: 国产精品影院在线观看 | 在线观看国产欧美 | 久久国产精品久久久 | 免费在线观看亚洲 | 亚洲毛片在线看 | 成人亚洲一区 | 国产精品2区 | 美日韩黄色大片 | 日韩黄视频 | 亚洲黄色免费网站 | 日韩中文字幕在线视频 | 日韩免费观看视频 | 色网站视频 | 丁香婷婷网 | 四虎成人精品在永久免费 | 中出av在线 | 日本亲子乱子伦xxxx50路 | 伊人在线| 国产一二三视频 | 精品美女视频在线观看免费软件 | 国产又大又猛 | 日韩在线视频播放 | www在线播放 | 亚洲精品aaaa | 美日韩一区 | 99热免费精品 | 日日夜夜狠狠干 | 美国一级片在线观看 | 欧美性a视频| 成人福利视频导航 | 亚洲一区二区三区视频在线 | 午夜免费av | 成人毛片100免费观看 | 中文字幕在线播放视频 | 手机在线观看av | 亚洲第二页| 亚洲天堂视频网 | 男女视频一区二区 | 久久中文网| 国产精品国产一区二区三区四区 | 国产一区二区三区在线免费观看 |