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XCMG’s 2017 net profit nearly quintuples to £¤1.02 billion as global economic recovery boosts construction machinery demand

XUZHOU, Jiangsu – XCMG, the world’s sixth largest construction machinery manufacturer, said in a statement on May 21 that its net profit in 2017 surged 389.31 percent to ¥1.02 billion, up from ¥208.6 million the previous year, far outpacing the revenue growth of 72.46 percent that the company said in

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March heavy-duty truck sales hit new record of 132,000 units, turning point coming in June?

– by Xie Guangyao UPDATE: March heavy-duty truck sales reached a historical monthly record of 138,900 units, up 21.21 percent from a year ago, according to official data released by China Association of Automobile Manufacturers (CAAM) on April 11. Sales in the first three months totaled 323,400 units, up 13.85 percent. Another

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January heavy-duty truck sales up 18 percent to 98,000 units, but tractor orders slide

There is good news and bad news for the heavy-duty truck market in January 2018. The good news is, heavy-duty truck sales topped 98,000 units, up 18 percent year-on-year and 48 percent from December 2017, according to manufacturer reported data obtained by cvworld.cn. The bad news is, orders for tractors

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Sany acquires construction machinery maker Putzmeister

AICHTAL, Germany – Sany Heavy Industry Co., Ltd., China’s largest construction machinery maker and the world’s largest concrete pump maker, has acquired German construction machinery maker Putzmeister in a deal worth €360 million ($473 million). The companies announced the signing of the agreement on January 27, creating a new global

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Zoomlion interested in making heavy-duty trucks

CHANGSHA, Hunan – Zoomlion Heavy Industry Science & Technology Development Co., Ltd. (Zoomlion), one of China’s largest construction machinery makers, is interested in manufacturing heavy-duty trucks, according to a report in Xiaoxiang Morning Post. “We are interested in moving into the heavy-duty truck assembly business, because we buy heavy-duty trucks

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XCMG inks heavy-duty truck deal

XUZHOU, Jiangsu – Xuzhou Construction Machinery Group (XCMG or commonly known as Xugong), China’s largest construction machinery manufacturer, officially inked a deal on January 28 with the Xuzhou High & New Technology and Industrial Development Zone, signaling its entry into the heavy-duty truck market. XCMG will invest ¥11.9 billion ($1.8

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Volvo Truck has no immediate plan for 2nd JV in China

After an unsuccessful truck joint venture with China National Heavy-Duty Truck Group Corp. (CNHTC), Volvo Truck has no intention to form another truck joint venture in China, according to Leif Johansson, president and CEO of Volvo Group, during a recent visit in Beijing. Johansson noted when interviewed by www.caing.com on

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Limited loader and digger market in China

Loaders and diggers are among the best selling products in the western construction machinery market. Yet they are barely popular in China. China is still undergoing major urban development. Large-scale infrastructure constructions have boosted the demand for mid- and heavy-duty construction machineries. Meanwhile, in Europe and North America, heavily urbanized

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