Zoomlion

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Zoomlion Heavy Industry Science & Technology Development Co., Ltd.
中联重科
Public
Traded as SZSE: 000157, SEHK1157
Industry Heavy machinery
Founded September 28, 1992
Headquarters Changsha, Hunan, People's Republic of China
Key people
Zhan Chunxin (President and CEO)
Products Construction equipment
Sanitation Equipment
Industrial machinery
Revenue US $7 billion
Number of employees
30,000
Subsidiaries Compagnia Italiana Forme Acciaio SpA (Cifa)
Powermole
Slogan 至诚无息 博厚悠远
Website http://en.zoomlion.com/

Zoomlion (officially Zoomlion Heavy Industry Science & Technology Development Co., Ltd.) (SZSE: 000157, SEHK1157) (Chinese: 中联重科) is a Chinese manufacturer of construction machinery and sanitation equipment,[1] listed on the Shenzhen Stock Exchange. Its headquarters are in the Zoomlion Science Park in Changsha, Hunan.[2]

Italian construction equipment maker Compagnia Italiana Forme Acciaio SpA (Cifa)[3] and British construction equipment manufacturer Powermole[4] are subsidiaries of the company.

History[edit]

Founded in 1992 as Changsha Hi-tech Development Area Zoomlion Construction Mechanical Industry Company, one of its first products were concrete pumps.[5]

Early acquisition of state-owned assets[edit]

Early development included the merging of several smaller, preexisting entities with Zoomlion including the former Concrete Machinery Research Office and remnants of the Changsha Construction Machinery Research Institute.[5]

IPO[edit]

Marking its transition to a public company, Zoomlion made an initial public offering on the Shenzhen Stock Exchange on Oct 12, 2000,[4] soon after acquiring ISO9001 certification.[4]

Overseas asset acquisitions[edit]

A rarity at a time when developing country companies seldom acquired their developed country counterparts, Zoomlion bought the British company Powermole in the early 2000s.[4]

In 2008, Zoomlion made another foreign acquisition with the purchase of Italian concrete machinery manufacturer, Compagnia Italiana Forme Acciaio SpA (Cifa),[3] in an equity link-up with Goldman Sachs, Mandarin Capital Partners, and Hony Capital.[3]

CCTV presentation[edit]

Having been previously featured in a 2001 CCTV documentary,[6] an advertisement for the company was also presented on CCTV in the May of 2004.[7]

Acusations of Fraud[edit]

In May 2013, Chinese newspaper New Express reported on alleged fraud at Zoomlion. This caused Zoomlion to temporarily suspend trading of its stock and later resulted in a 9% decrease in its share price.[8] Zoomlion accused the reporter Chen Yongzhou of "damaging business interests" and he has since been arrested.[9] In October, 2013, New Express published a large front-page plea for his release.[10]

Products[edit]

A Zoomlion road sweeper

Products are mainly truck-mounted, purpose-specific machinery; heavy machinery; or cranes, and include: bulldozers,[11] concrete machinery,[12] cranes[1] (mobile cranes,[13] tower cranes,[14] etc.), excavators,[11] fire apparatus,[15] garbage compactor machinery,[16] garbage trucks,[16] loaders,[11] asphalt pavers,[17] pile foundation rotary drilling rigs,[18] road rollers,[17] snowplows,[16] street sweepers,[16] various other road surface vehicles,[17] and environmental and sanitation machinery, etc.[1]

Zoomlion has at least four brand names, including its own.[7]

Operations[edit]

Subsidiaries[edit]

All of the following may be subsidiaries or divisions of Zoomlion.

  • Changsha Construction Machinery Research Institute[6]
  • Changsha Zoomlion Haiqiang Concrete Co Ltd[7]
  • China Engineer Machinery Academy Concrete Machinery Session[19]
  • Compagnia Italiana Forme Acciaio SpA (Cifa) – acquired in 2008[3]
  • Hunan Machinery Branch Company[6]
  • Hunan Machine Tool Works[4] – acquired on December 21, 2002[4]
  • Hunan Zoomlion International Trade Co Ltd[20] – located in Zoomlion Science Park, Changsha, Hunan it oversees export of Zoomlion products.[20]
  • Powermole Company[4] – acquired on November 23, 2001[4]
  • Puyuan Group and Puyuan Engineer Machinery Co Ltd[6]
  • Zoomlion Bus Branch Company[7]
  • Zoomlion Finance & Leasing Co Ltd[21]
  • Zoomlion North Branch Company[7]
  • Zoomlion Hoisting Machinery Branch Company[19] – originally located in Changde, moved to Changsha in June, 2006[19]
  • Zoomlion Puyuan Branch Company[7]
  • Puyuan Group Co Ltd[6] – this unit has produced cranes[6]
  • Zoomlion Puyuan Special Vehicle Branch Company[19]
  • Zoomlion Xinxing Construction Machinery Leasing Co Ltd[19]
  • Zoomlion Zhongbiao Branch Company[6]
  • Zoomlion Zhongke Beidou[22]

Production bases and facilities[edit]

Zoomlion owns 9 industrial parks,[citation needed] and at least one factory, the Puyuan Group Chassis Factory.[6] Sites include:

See also[edit]

References[edit]

  1. ^ a b c Brief Introduction Archived January 2, 2010, at the Wayback Machine. Zoomlion Official Site
  2. ^ "Contact Us Archived September 1, 2011, at the Wayback Machine.." Zoomlion. Retrieved on August 14, 2011. "Address:Zoomlion Science Park, Yinpen South Road 361, Changsha, Hunan"
  3. ^ a b c d UPDATE 1-Goldman, China Zoomlion win Cifa with $422 mln bid reuters.com, Wed Jun 25, 2008 4:56am EDT
  4. ^ a b c d e f g h Events of the Corporation in 2000–2001 Archived January 5, 2010, at the Wayback Machine. Zoomlion Official Site
  5. ^ a b Event of Corporation in 1992–1997 Archived July 18, 2011, at the Wayback Machine. Zoomlion Official Site
  6. ^ a b c d e f g h i Events of Corporation in 2001 Archived January 5, 2010, at the Wayback Machine. Zoomlion Official Site
  7. ^ a b c d e f g h i j Events of Corporation in 2004 Archived January 5, 2010, at the Wayback Machine. Zoomlion Official Site
  8. ^ [1] Forbes
  9. ^ [2] Changsha City Police
  10. ^ [3] New Express
  11. ^ a b c Home > Products > Earth Working Machinery Archived December 18, 2009, at the Wayback Machine. Zoomlion Official Site
  12. ^ Home > Products > Concrete Machinery Archived January 20, 2010, at the Wayback Machine. Zoomlion Official Site
  13. ^ Home > Products > Mobile Crane Machinery Archived January 5, 2010, at the Wayback Machine.
  14. ^ Home > Products > Construction Hoisting Machinery Archived January 5, 2010, at the Wayback Machine. Zoomlion Official Site
  15. ^ Home > Products > Fire Fighting Machinery Archived December 1, 2010, at the Wayback Machine. Zoomlion Official Site
  16. ^ a b c d Home > Products > Environmental & Sanitation Machinery Archived August 22, 2010, at the Wayback Machine. Zoomlion Official Site
  17. ^ a b c Home > Products > Road Machinery Archived December 1, 2010, at the Wayback Machine. Zoomlion Official Site
  18. ^ Home > Products > Pile Foundation Machinery Archived January 5, 2010, at the Wayback Machine. Zoomlion Official Site
  19. ^ a b c d e f Events of Corporation in 2006 Archived January 5, 2010, at the Wayback Machine. Zoomlion Official Site
  20. ^ a b Zoomlion International Trade Co., Ltd. Archived October 18, 2010, at the Wayback Machine. Zoomlion Official Site
  21. ^ Zoomlion Finance & Leasing Co., Ltd. Archived December 1, 2010, at the Wayback Machine. Zoomlion Official Site
  22. ^ Events of Corporation in 2005 Archived July 18, 2011, at the Wayback Machine. Zoomlion Official Site

External links[edit]