Chinese Manufacturers Make Another Big Investment - ENR | McGraw-Hill Construction
Keywords: construction methods, legislation, analysis, equipment & materials, labor, ENR, finance, markets
Full Article Price:
$4.95
Delivery: Immediate Online Access
Publication Date: 16-JUL-08
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Article Description| Changsha, China-based Zoomlion Heavy Industry Science and Technology Development Co. has inked a contract to acquire Milan, Italy-based concrete-equipment manufacturer CIFA S.p.A. for $422 million in cash, the largest overseas investment a Chinese equipment firm has made to date. Zoomlion says it will pay out $50 million and borrow another $200 million to complete the deal for a 60% stake. New York-based Goldman Sachs and China-based Mandarin Capital Partners and Hony Capital would take up the balance. Analysts say the deal is the second major international play for a Chinese construction-equipment company after Zoomlion rival Sany Heavy Industry Co. Ltd. announced last year that it would invest $100 million on an assembly and corporate campus near ... |
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