 | |
| Company type | Limited company |
|---|---|
| SSE:600031[1] | |
| Industry | Heavy equipment |
| Founded | 1989 (1989) (Maotang,Lianyuan,Hunan Province) |
| Founders | Liang Wengen, Tang Xiuguo, Mao Zhongwu, Yuan Jinhua |
| Headquarters | , |
Area served | Worldwide |
Key people |
|
| USD 16 billion (2021)[2] | |
| USD 1.82 billion (2021)[3] | |
Number of employees | Approximately 90,000[4] |
| Subsidiaries | Putzmeister |
| Website | www |
| Sany | |||||||
|---|---|---|---|---|---|---|---|
| Chinese | 三一重工股份有限公司 | ||||||
| Literal meaning | Sany Heavy Industry Co., Ltd. | ||||||
| |||||||
Sany Heavy Industry Co., Ltd. (SSE:600031) is a Chinesemultinationalheavy equipment manufacturing company headquartered inChangsha,Hunan. It is the 3rd-largest heavy equipment manufacturer in the world,[5] and the first in its industry in China to enter theFT Global 500[6] and theForbes Global 2000[7] rankings. Its founder and main shareholder isLiang Wengen.[8]
Sany is especially known for its concrete machinery, for which it is globally ranked No.1. It is also a major supplier of excavators, cranes, wheel loaders and other heavy machines.
Sany has a dozen industrial parks in China plus manufacturing facilities inAustralia,Belarus,Brazil,Canada,Germany,India,Indonesia,Kazakhstan,Russia,Ukraine and in theUnited States.[9] The company has approximately 90,000 employees worldwide.[10]
The name "Sany" comes from the English pronunciation of theChinese name of the company (Chinese:三一;pinyin:Sānyī), which means "three ones", in reference to the three goals the company mentions as its vision: "To build a first-class enterprise, to foster first-class employees, and to make first-class contributions to society". The logo of the company makes reference to this phrase, as it contains three number ones interlinked.
The origins of Sany lie in Lianyuan Welding Material Ltd, a company founded in 1986 byLiang Wengen, Tang Xiuguo, Mao Zhongwu and Yuan Jinhua, who left their previous jobs and first established the company with a capital of sixty thousand yuans in the town of Maotang,county-level city ofLianyuan.[citation needed]
In 1991 Lianyuan Welding Material Ltd. was officially renamed Sany Group Co., Ltd. and its headquarters were officially moved to Changsha. Since then, the company has experienced continuous rapid growth (at an annualized rate of around 50%), spurred byChina's economic boom, specifically growth in its construction sector.
Sany Heavy Industry Co., Ltd was founded in 1994 as a subsidiary of the Sany Group. Sany Heavy Industry went public on theShanghai Stock Exchange on July 3, 2003. On June 17, 2005, the company conducted the split share structure reform and realized full circulation of its shares. After this event, itsmarket cap started growing at a very fast rate, jumping from a total of RMB 4 million yuan in 2005 up to a total of RMB 137 million yuan in June 2011.[11]
Since its foundation, the headquarters of Sany have received official visits from severalpolitical leaders, includingHu Jintao andWen Jiabao.[12]
In 2010 the operating income of Sany reached just under 34 billion RMB, a 79% year-on-year increase.[13]
During the2010 Copiapó mining accident, a crane manufactured by SANY was used in rescuing the Chilean miners.[14] A pump from the company was donated to theTokyo Electric Power Company to assist with the emergency response to theFukushima I nuclear accidents.[15]
In 2011, Sany signed several contracts to open new manufacturing centers, the most important of them include theZhuhai[16] andLingang New City[17] centers, and the fifth international equipment plant inIndonesia, the latter with an investment of US$200 million.[18]
In January 2012 Sany agreed to acquire a 90 per cent stake inPutzmeister, a Germany-based manufacturer of concrete pumps, for €324 million, withCITIC PE Advisors (Hong Kong) Ltd. agreeing to purchase the balance of 10 per cent.[19]
In February 2012, Sany andAustria-basedPalfinger announced a market venture to make and sell mobile cranes, a project with a total investment of $143 million, plus the construction of a sales unit inSalzburg for $5.4 million.[20]
In 2012, through affiliate Ralls Corp., Sany acquired four wind farm projects inOregon. Later in the year, though, theObama administration ordered the wind farms divested after it was determined their location next to theNaval Weapons Systems Training Facility in Boardman, Oregon represented a national security risk. The divestiture—the first of its kind since 1990—was ordered by the USTreasury Department, which chairs the interagencyCommittee on Foreign Investment.[21]
In 2014, Sany'sHuerfano River Wind Farm was acquired by Tamra-Tacoma Capital Partners. Tamra-Tacoma Capital Partners and Sany soon after announced plans to construct 1gigawatt of wind infrastructure in the United States. The Huerafano acquisition marked Sany's first partnership with a U.S. mainland investment firm. Tamra-Tacoma Capital Partners initiated litigation against Sany America on August 31, 2016, alleging Sany fraudulently misrepresented the plant's production and had no maintenance program, leaving the asset "worthless" according to the complaint. On February 6, 2019, the case was settled and subsequently dismissed with prejudice.[22]
In March 2017, Sany andStar Energy announced plans to construct 1gigawatt of wind infrastructure in the United States.[23]
In 2021, the company was ranked 468th in the Forbes Global 2000, first among heavy equipment manufacturers in China and second in the world.[24]
In 2023,Liang Wengen retired as the chairman of the Sany Group at the age of 67.[25]
Sany Group is organised into the following major divisions and subsidiaries:
Sany sponsored theTommy Baldwin Racing #7 driven byDave Blaney in theNASCARSprint Cup Series in 14 races in 2013, while also serving as associate sponsor for 22 races.[26]
 Heavy machinery manufacturers of China | |
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