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Zoomlion

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Zoomlion Heavy Industry Science & Technology Development Co., Ltd.
中联重科
Company typePublic
SZSE: 000157, SEHK: 1157
IndustryHeavy machinery
FoundedSeptember 28, 1992
HeadquartersChangsha, Hunan, People's Republic of China
Key people
Zhan Chunxin (President and CEO)
ProductsConstruction equipment
Sanitation Equipment
Industrial machinery
RevenueUS $7 billion
Number of employees
30,000
SubsidiariesCompagnia Italiana Forme Acciaio SpA (Cifa)
Powermole
Websitehttp://en.zoomlion.com/

Zoomlion (officially Zoomlion Heavy Industry Science & Technology Development Co., Ltd.) (SZSE: 000157, SEHK: 1157) (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

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

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

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

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

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

Acusations of Fraud

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

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

Subsidiaries

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

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

See also

References

  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
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