 | |
Native name | 中聯重科股份有限公司 |
|---|---|
| Company type | Public |
| SZSE:000157 (A share) SEHK: 1157 (H share) | |
| Industry | Heavy machinery Agricultural machinery |
| Founded | September 28, 1992 |
| Founder | Zhan Chunxin |
| Headquarters | Changsha,Hunan,People's Republic of China |
Key people |
|
| Products | Construction equipment Tractors Combine harvesters Sugarcane harvesters |
Number of employees | 90,000 |
| Subsidiaries |
|
| Website | www |
Zoomlion Heavy Industry Science and Technology Co., Ltd. is a Chineseconstruction machinery andagricultural machinery manufacturer.[1] Its headquarters are in the Zoomlion Science Park inChangsha,Hunan,China.[2] Zoomlion is China's largest and world's fifth largest construction machinery enterprise.
Founded in 1992 as Changsha Hi-tech Development Area Zoomlion Construction Mechanical Industry Company, one of its first products were concrete pumps.[3] 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 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.[3]
Marking its transition to apublic company, Zoomlion made aninitial public offering on theShenzhen Stock Exchange on October 12, 2000,[4] soon after acquiringISO9001 certification.[4]
A rarity at a time whendeveloping country companies seldom acquired theirdeveloped 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),[5] in an equity link-up withGoldman Sachs, Mandarin Capital Partners, andHony Capital.[5]
Having been previously featured in a 2001CCTV documentary,[6] an advertisement for the company was also presented onCCTV in May 2004.[7]
In May 2013, Chinese newspaperNew 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]
In August 2014, Zoomlion purchased a majority share in the agricultural machinery maker Chery Heavy Industry. Zoomlion purchased 60 percent of the company for 2.08 billion yuan. With this acquisition Zoomlion intended to modernize China's agricultural machinery industry and compete with foreign brands that still dominate a big part of the medium and high-end large farm machinery market in China.[11]
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.[12]
Products are mainly truck-mounted, purpose-specific machinery;heavy machinery and include:bulldozers,[13]concrete machinery,[14]cranes[1] (mobile cranes,[15]tower cranes,[16] etc.),excavators,[13]fire apparatus,[17]garbage compactor machinery,[18]garbage trucks,[18]loaders,[13]asphalt pavers,[19]pile foundation rotary drilling rigs,[20]road rollers,[19]snowplows,[18]street sweepers,[18] and various otherroad surface vehicles.[19]
Zoomlion also sellsagricultural machinery and include:tractors,combine harvesters andsugarcane harvesters.
Zoomlion has at least fourbrand names, including its own.[7]
All of the following may be subsidiaries or divisions of Zoomlion.
Zoomlion owns 9 industrial parks,[citation needed] and at least one factory, the Puyuan Group Chassis Factory.[6] Sites include:
Media related toZoomlion at Wikimedia Commons
