On the first trading day after the Spring Festival, China's largest construction machinery manufacturer Sany Heavy Industry (600031) announced that its holding subsidiary Sany Germany Co., Ltd. (hereinafter referred to as Sany Germany) will spend 324 million euros (equivalent to RMB 26.54 billion yuan) acquired the equity of Germany's famous construction machinery company Putzmeister 90. The impact of this acquisition on the industry is also obvious, and there are indications that the machinery industry has opened a new era of overseas mergers and acquisitions. Since Zoomlion acquired the Italian CIFA, the third-ranked global concrete machinery company in 2009, Sany Heavy Industry and Xugong Machinery are planning their overseas acquisition plans. The industry generally believes that the acquisition of Putzmeister will help Sany Heavy Industry to step up the pressure of Zoomlion to lead the field. In addition, there is also news that Xugong Group, which is also a Chinese construction machinery giant with Sany Heavy Industry, is in talks with another global peer, Shi Weiying. If successful, it will become the third important overseas acquisition of China's construction machinery industry after Zoomlion acquired Italy CIFA in 2009 and Sany Heavy Industry acquired Putzmeister in 2012. Regarding this rumor, Xiang Wenbo said at a press conference yesterday that Sany will not participate in the battle for the acquisition of Shi Weiying, which is mainly limited by the anti-monopoly law.
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