MediaMedia
XCMG signs the agreement to acquire Schwing
Dear Colleagues:
We are pleased to announce that all agreements for the acquisition of the global leading concrete equipment manufacturer, Schwing Group GmbH ("Schwing"), by the largest leading enterprise in the Chinese construction machinery industry—Xuzhou Construction Machinery Group Co., Ltd. ("XCMG Group")—have been signed. Both parties are currently working diligently on the project submission and plan to complete the equity transfer by the end of June.
XCMG Group is the largest enterprise group in China's construction machinery industry, with the most comprehensive range and series of products and the strongest competitiveness and influence. Since its establishment in 1989, XCMG Group has consistently maintained a leading position in China's construction machinery industry. Currently, XCMG Group ranks seventh globally in terms of scale.
Schwing GmbH is the global leader in concrete equipment sets, with approximately 4,000 employees worldwide. The company was founded in 1934, and in addition to its headquarters in Herne, Germany, it has established production facilities in multiple countries and regions, including the United States, Austria, India, and Brazil.
Through this acquisition, XCMG Group will gain controlling interest in Schwing, significantly enhancing XCMG Group's core competitiveness and overall strength. This will facilitate the rapid development of XCMG Group's concrete equipment sets and the creation of internationally recognized concrete equipment sets.
This is XCMG Group's new international acquisition project following its successful acquisition of two European component companies. Eurasian Consulting GmbH, which previously served as the merger and acquisition advisor for XCMG Group's European acquisition projects, once again exclusively served as the merger and acquisition advisor for XCMG Group in this transaction.
We are pleased to announce that all agreements for the acquisition of the global leading concrete equipment manufacturer, Schwing Group GmbH ("Schwing"), by the largest leading enterprise in the Chinese construction machinery industry—Xuzhou Construction Machinery Group Co., Ltd. ("XCMG Group")—have been signed. Both parties are currently working diligently on the project submission and plan to complete the equity transfer by the end of June.
XCMG Group is the largest enterprise group in China's construction machinery industry, with the most comprehensive range and series of products and the strongest competitiveness and influence. Since its establishment in 1989, XCMG Group has consistently maintained a leading position in China's construction machinery industry. Currently, XCMG Group ranks seventh globally in terms of scale.
Schwing GmbH is the global leader in concrete equipment sets, with approximately 4,000 employees worldwide. The company was founded in 1934, and in addition to its headquarters in Herne, Germany, it has established production facilities in multiple countries and regions, including the United States, Austria, India, and Brazil.
Through this acquisition, XCMG Group will gain controlling interest in Schwing, significantly enhancing XCMG Group's core competitiveness and overall strength. This will facilitate the rapid development of XCMG Group's concrete equipment sets and the creation of internationally recognized concrete equipment sets.
This is XCMG Group's new international acquisition project following its successful acquisition of two European component companies. Eurasian Consulting GmbH, which previously served as the merger and acquisition advisor for XCMG Group's European acquisition projects, once again exclusively served as the merger and acquisition advisor for XCMG Group in this transaction.
