Guangxi Liugong Machinery (LiuGong) has announced a RMB 546 million (US$ 85 million) acquisition of 51% of the shares in Shanghai Jintai Engineering Machinery.

Liugong web

LiuGong said the acquisition would increase global sales of Jintai products and both companies’ profits

The shares were formerly held by Guangxi Liugong Group Corporation and LiuGong said the deal can be traced back to a strategic co-operation agreement signed in May 2011.

Jintai is one of the leading enterprises of piling foundation industry and a pioneer in research and development and sales of underground hydraulic diaphragm wall grabs and rotary drilling rigs in China.

It has developed a full line of piling machinery, with 16 series and more than 70 models.

The acquisition allows LiuGong to add piling machines to its product portfolio, and the company will participate in the research and development, manufacture, sales and services of the piling machines.

It said the acquisition will increase global sales of Jintai products and improve the profitability of both companies.

Demolition & Recycling International July-August 2019 1

Demolition & Recycling International - July-August 2019

Included in the issue: 

  • WORLD NEWS 
    Another record year for World Demolition Awards; Turcot Interchange project to feature at Summit; CECE leads circular economy call; Metso acquires McCloskey; decommissioning of nuclear power plants set to grow; O’Keefe in four-time safety award win; AR Demolition goes for remediation relaunch; EDA hails successful Japan study tour
  • INTERVIEW – JET DEMOLITION 
    American Joe Brinkmann grew up in farming, graduated in engineering and now heads an award-winning South African demolition contractor
  • EXCAVATORS
    Manufacturers find themselves meeting increasing challenges
  • D&RI100 HEADLINERS 
    A more detailed look at the stories behind the numbers for some of the companies involved in our annual listing of contractors by turnover
  • SPECIAL FEATURE – METSO & CAREY’S
    Two companies celebrating differing milestones during mid-2019
  • RECYCLING AKTIV SHOW GUIDE
    D&Ri looks ahead to Recycling Aktiv, the demonstration trade fair for recycling machines and systems taking place in Germany in September
  • HYBRID TECHNOLOGY
    How does technology tie in with what the customer wants to achieve?
  • HYDRODEMOLITION
    A challenging project at an oil terminal in Nigeria
  • WORLD DEMOLITION SUMMIT
    A look at the 10th anniversary of the World Demolition Awards
  • OPINION – RICHARD VANN
    Exactly how important is stakeholder engagement in demolition?
  • EQUIPMENT
    Demarec and Hammer to merge; Liebherr lightens the load for Dowideit Recycling in Germany; Costello Dismantling boosts volumes with Genesis bucket crushers; Sandvik introduces nextgeneration impact crusher
  • EDA NEWS
    All set for Think Tank 2019;Industry Report on its way

Newsletter

Delivered directly to your inbox World Demolition features the pick of the breaking news stories, product launches, show reports and more.

Sign up for free

Newsletter

Delivered directly to your inbox World Demolition features the pick of the breaking news stories, product launches, show reports and more.

Go to newsletters