XCMG completes the closing of its acquisition of Schwing

On July 6, 2012, XCMG, the leading enterprise in China's construction machinery industry, successfully completed the equity transfer of Schwing, a global leader in concrete machinery, and held a grand equity transfer ceremony in Essen, Germany. After the transfer, XCMG held 52% controlling equity in Schwing GmbH, while the Schwing family retained 48% of the equity.

In the 10 months from the initial contact with the Schwing family to the completion of the transaction, Eurasian Consulting GmbH, as the exclusive M&A advisor to XCMG, once again successfully partnered with XCMG. This transaction is the third European acquisition project that Eurasian Consulting GmbH has completed for XCMG Group since 2009.