Zoomlion

Zoomlion Heavy Industry Science & Technology Development Co., Ltd.

Type	Public
Traded as	SZSE: 000157, SEHK: 1157
Industry	Heavy machinery
Founded	September 28, 1992
Headquarters	Changsha, Hunan, People's Republic of China
Key people	Zhan Chunxin (President and CEO)
Products	Construction equipment Sanitation Equipment Industrial machinery
Subsidiaries	Compagnia Italiana Forme Acciaio SpA (Cifa) Powermole
Slogan	至诚无息 博厚悠远
Website	http://en.zoomlion.com/

Zoomlion (officially Zoomlion Heavy Industry Science & Technology Development Co., Ltd.) (SZSE: 000157, SEHK: 1157) (Chinese: 中联重科) is a Chinese manufacturer of construction machinery and sanitation equipment,^[1] listed on the Shenzhen Stock Exchange. Its headquarters are in the Zoomlion Science Park in Changsha, Hunan.^[2]

Italian construction equipment maker Compagnia Italiana Forme Acciaio SpA (Cifa)^[3] and British construction equipment manufacturer Powermole^[4] are subsidiaries of the company.

History

Founded in 1992 as Changsha Hi-tech Development Area Zoomlion Construction Mechanical Industry Company, one of its first products were concrete pumps.^[5]

Early acquisition of state-owned assets

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.^[5]

IPO

Marking its transition to a public company, Zoomlion made an initial public offering on the Shenzhen Stock Exchange on Oct 12, 2000,^[4] soon after acquiring ISO9001 certification.^[4]

Overseas asset acquisitions

A rarity at a time when developing country companies seldom acquired their developed 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),^[3] in an equity link-up with Goldman Sachs, Mandarin Capital Partners, and Hony Capital.^[3]

CCTV presentation

Having been previously featured in a 2001 CCTV documentary,^[6] an advertisement for the company was also presented on CCTV in the May of 2004.^[7]

Acusations of Fraud

In May 2013 Chinese newspaper New 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 stock price.^[8] Zoomlion counter accused the reporter Chen Yongzhou of "damaging business interests" and he has since been arrested.^[9] On Wednesday October 23, 2013 New Express published a large front-page plea for his release.^[10]

Products

Products are mainly truck-mounted, purpose-specific machinery; heavy machinery; or cranes, and include: bulldozers,^[11] concrete machinery,^[12]

A Zoomlion road sweeper

cranes^[1] (mobile cranes,^[13] tower cranes,^[14] etc.), excavators,^[11] fire apparatus,^[15] garbage compactor machinery,^[16] garbage trucks,^[17] loaders,^[11] asphalt pavers,^[18] pile foundation rotary drilling rigs,^[19] road rollers,^[20] snowplows,^[21] street sweepers,^[22] various other road surface vehicles,^[23] and environmental and sanitation machinery, etc.^[1]

Zoomlion has at least four brand names, including its own.^[7]

• AA^[7]
• Puyuan^[7]
• Zhongbiao^[7]

Operations

Subsidiaries

All of the following may be subsidiaries or divisions of Zoomlion.

• Changsha Construction Machinery Research Institute^[6]
• Changsha Zoomlion Haiqiang Concrete Co Ltd^[7]
• China Engineer Machinery Academy Concrete Machinery Session^[24]
• Compagnia Italiana Forme Acciaio SpA (Cifa) – acquired in 2008^[3]
• Hunan Machinery Branch Company^[6]
• Hunan Machine Tool Works^[4] – acquired on December 21, 2002^[4]
• Hunan Zoomlion International Trade Co Ltd^[25] – located in Zoomlion Science Park, Changsha, Hunan it oversees export of Zoomlion products.^[25]
• Powermole Company^[4] – acquired on November 23, 2001^[4]
• Puyuan Group and Puyuan Engineer Machinery Co Ltd^[6]
• Zoomlion Bus Branch Company^[7]
• Zoomlion Finance & Leasing Co Ltd^[26]
• Zoomlion North Branch Company^[7]
• Zoomlion Hoisting Machinery Branch Company^[24] – originally located in Changde, moved to Changsha in June, 2006^[24]
• Zoomlion Puyuan Branch Company^[7]
• Puyuan Group Co Ltd^[6] – this unit has produced cranes^[6]
• Zoomlion Puyuan Special Vehicle Branch Company^[24]
• Zoomlion Xinxing Construction Machinery Leasing Co Ltd^[24]
• Zoomlion Zhongbiao Branch Company^[6]
• Zoomlion Zhongke Beidou^[27]

Production bases and facilities

Zoomlion owns 9 industrial parks,^{[citation needed]} and at least one factory, the Puyuan Group Chassis Factory.^[6] Sites include:

• Zoomlion Science Park in Changsha, Hunan
• CIFA in Milan, Italy
• Huayin Industrial Park in Huayin, Shaanxi
• Ruanjiang Industrial Park in Yuanjiang, Hunan
• Guanxi Industrial Park in Changde, Hunan^[7]
• Songjiang Industrial Park in Songjiang, Shanghai^[24]
• Maqiaohe Industrial Park in Wangcheng, Hunan
• Quantang Industrial Park in Changsha, Hunan
• Lugu Industrial Park in Lugu, Changsha, Hunan^[6] 

See also 

Companies portal

References