Sany Announces 900 Mln Yuan Joint Venture with Palfinger

(Beijing) – Sany Heavy Industry Co. a Changsha-based engineering machinery manufacturer in China recently completed more heavy-lifting as part of its overseas expansion strategy.

Sany announced February 28 that it would form two crane-manufacturing joint ventures with Austrian construction equipment-maker Palfinger AG.

Sany Mobile Hoisting Machinery Co., Ltd, a wholly-owned subsidiary of Sany Heavy Industry, will invest 900 million yuan with Palfinger Asia Pacific to open a truck-mounted crane joint venture in Changsha, Hunan Province.