Tuesday, April 24, 2012

Chinese Firm Acquires Concrete Pump Maker Schwing

Xuzhou Construction Machinery Group of Xuzhou, China, has acquired a controlling interest in German concrete pump maker Schwing, according to XCMG Chairman Wang Min. Min says German management of Schwing will remain in charge of day to day operations of the construction equipment maker.

China is the world’s largets market for truck mounted concrete pumps, accounting for sales of 4,000 units among the total of 6,000 truck mounted pumps manufactured worldwide in 2011. Schwing employs a worldwide staff of about 3,300 in seven countries, but is expected to cut 170 positions at its Herne headquarters, about 20% of the workforce at the Herne location. Schwing America, the German concern’s U.S. subsidiary based in St. Paul, emerged from chapter 11 bankruptcy in 2010, following deep cuts in American concrete construction equipment spending.

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