Zoomlion
![]() | This article may contain excessive or inappropriate references to self-published sources. (June 2020) |
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Type | Public |
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SZSE: 000157 (A share) SEHK: 1157 (H share) | |
Industry | Heavy machinery |
Founded | September 28, 1992 |
Headquarters | Changsha, Hunan, People's Republic of China |
Key people | Zhan Chunxin (Chairman & CEO) |
Products | Construction equipment Sanitation Equipment Industrial machinery |
Number of employees | 30,000 |
Subsidiaries | Compagnia Italiana Forme Acciaio Powermole |
Website | www |
Zoomlion Heavy Industry Science and Technology Co., Ltd. | |||
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Traditional Chinese | 中聯重科股份有限公司 | ||
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Alternative Chinese name | |||
Simplified Chinese | 中联重科 | ||
Traditional Chinese | 中聯重科 | ||
Literal meaning | Zoomlion Heavy Technology | ||
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Zoomlion Heavy Industry Science and Technology Co., Ltd. is a Chinese manufacturer of construction machinery and sanitation equipment,[1] Its headquarters are in the Zoomlion Science Park in Changsha, Hunan.[2]
Zoomlion is world's fifth largest and China's largest construction machinery enterprise. In 2008, Zoomlion acquired CIFA, the world's third largest concrete machinery manufacturer, which was the largest ever European acquisition by a Chinese company at the time.
The business of Zoomlion consists of five sectors: construction machinery, agricultural machinery, heavy trucks, environmental business and financial services.
Italian construction equipment maker Compagnia Italiana Forme Acciaio (CIFA)[3] and British construction equipment manufacturer Powermole[4] are subsidiaries of the company.
History[]
![](http://upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Zoomlion%2C_Changsha%2C_Hunan%2C_China%2C_Picture2.jpg/220px-Zoomlion%2C_Changsha%2C_Hunan%2C_China%2C_Picture2.jpg)
Founded in 1992 as Changsha Hi-tech Development Area Zoomlion Construction Mechanical Industry Company, one of its first products were concrete pumps.[5] The company grew out of a subsidiary founded in 1956 in Beijing, as part of the first Ministry of Machinery Industry, Ministry of Construction, Central Enterprise Work Committee.
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]
Accusations 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]
Environmental unit sale[]
Due to financial difficulties following a long term slow down in the Chinese construction industry Zoomlion sold its environmental unit in May 2017 for 11.6 billion yuan (US$1.7 billion). This came after the company reported a 929 million yuan loss in the 2015/16 period.[11]
Products[]
Products are mainly truck-mounted, purpose-specific machinery; heavy machinery; or cranes, and include: bulldozers,[12] concrete machinery,[13] cranes[1] (mobile cranes,[14] tower cranes,[15] etc.), excavators,[12] fire apparatus,[16] garbage compactor machinery,[17] garbage trucks,[17] loaders,[12] asphalt pavers,[18] pile foundation rotary drilling rigs,[19] road rollers,[18] snowplows,[17] street sweepers,[17] various other road surface vehicles,[18] 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[20]
- 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[21] – located in Zoomlion Science Park, Changsha, Hunan it oversees export of Zoomlion products.[21]
- 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[22]
- Zoomlion North Branch Company[7]
- Zoomlion Hoisting Machinery Branch Company[20] – originally located in Changde, moved to Changsha in June, 2006[20]
- Zoomlion Puyuan Branch Company[7]
- Puyuan Group Co Ltd[6] – this unit has produced cranes[6]
- Zoomlion Puyuan Special Vehicle Branch Company[20]
- Zoomlion Xinxing Construction Machinery Leasing Co Ltd[20]
- Zoomlion Zhongbiao Branch Company[6]
- Zoomlion Zhongke Beidou[23]
Production bases and facilities[]
Zoomlion owns 9 industrial parks,[citation needed] and at least one factory, the Puyuan Group Chassis Factory.[6] Sites include:
- Zoomlion Science Park in Changsha, Hunan
- CIFA in Milan, Italy
- Huayin Industrial Park in Huayin, Shaanxi
- Ruanjiang Industrial Park in Yuanjiang, Hunan
- Guanxi Industrial Park in Changde, Hunan[7]
- Songjiang Industrial Park in Songjiang, Shanghai[20]
- Majiahe Industrial Park in Wangcheng District, Hunan
- Quantang Industrial Park in Changsha, Hunan
- Lugu Industrial Park in Lugu, Changsha, Hunan[6]
See also[]
References[]
- ^ Jump up to: a b c Brief Introduction Archived January 2, 2010, at the Wayback Machine Zoomlion Official Site
- ^ "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"
- ^ Jump up to: a b c d UPDATE 1-Goldman, China Zoomlion win Cifa with $422 mln bid reuters.com, Wed Jun 25, 2008 4:56am EDT
- ^ Jump up to: 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
- ^ Jump up to: a b Event of Corporation in 1992–1997 Archived July 18, 2011, at the Wayback Machine Zoomlion Official Site
- ^ Jump up to: 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
- ^ Jump up to: 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
- ^ [1] Forbes
- ^ [2] Changsha City Police
- ^ [3] New Express
- ^ Yang, Ge. "Zoomlion Plows Out of Environmental Business With $1.7 Billion Sale - Caixin Global". Caixin Global. Retrieved 2020-06-18.
- ^ Jump up to: a b c Home > Products > Earth Working Machinery Archived December 18, 2009, at the Wayback Machine Zoomlion Official Site
- ^ Home > Products > Concrete Machinery Archived January 20, 2010, at the Wayback Machine Zoomlion Official Site
- ^ Home > Products > Mobile Crane Machinery Archived January 5, 2010, at the Wayback Machine
- ^ Home > Products > Construction Hoisting Machinery Archived January 5, 2010, at the Wayback Machine Zoomlion Official Site
- ^ Home > Products > Fire Fighting Machinery Archived December 1, 2010, at the Wayback Machine Zoomlion Official Site
- ^ Jump up to: a b c d Home > Products > Environmental & Sanitation Machinery Archived August 22, 2010, at the Wayback Machine Zoomlion Official Site
- ^ Jump up to: a b c Home > Products > Road Machinery Archived December 1, 2010, at the Wayback Machine Zoomlion Official Site
- ^ Home > Products > Pile Foundation Machinery Archived January 5, 2010, at the Wayback Machine Zoomlion Official Site
- ^ Jump up to: a b c d e f Events of Corporation in 2006 Archived January 5, 2010, at the Wayback Machine Zoomlion Official Site
- ^ Jump up to: a b Zoomlion International Trade Co., Ltd. Archived October 18, 2010, at the Wayback Machine Zoomlion Official Site
- ^ Zoomlion Finance & Leasing Co., Ltd. Archived December 1, 2010, at the Wayback Machine Zoomlion Official Site
- ^ Events of Corporation in 2005 Archived July 18, 2011, at the Wayback Machine Zoomlion Official Site
External links[]
- Companies in the SZSE 100 Index
- Companies listed on the Shenzhen Stock Exchange
- Companies listed on the Hong Kong Stock Exchange
- Companies based in Changsha
- Construction equipment manufacturers of China
- Chinese companies established in 1992
- Manufacturing companies based in Hunan
- Chinese brands