Sany Heavy Industry U.S. project approved by the national development and Reform Commission
Guide: Sany Heavy Industry Co., Ltd. investment projects in the United States issued: approved by the national development and Reform Commission. On the 3rd, the national development and Reform Commission announced that in February this year, Sany Heavy Industry had approved Sany USA Co., Ltd. to invest in the construction machinery manufacturing base in peach tree city, Georgia. Zhao Xiangzhang, the Secretary of Sany Heavy Industry, told me that it was time toThe investment project of Sany Heavy Industry Co., Ltd. in the United States was approved by the national development and Reform Commission. On the 3rd, the national development and Reform Commission announced that in February this year, Sany Heavy Industry had approved Sany USA Co., Ltd. to invest in the construction machinery manufacturing base in peach tree city, Georgia. Zhao Xiangzhang, the Secretary of Sany Heavy Industry, told that the project has just begun, and it still needs several years to be put into construction
he said that at present, the company has not received the approval of the Ministry of Commerce and the foreign exchange administration department for the project. "At the beginning, Sany Heavy Industry had a company with several million dollars in the United States, and this time it did camp in the United States by increasing its Chinese investment."
the above items have appeared in the announcement of Sany Heavy Industry. At that time, Sany said that the company would sign an investment memorandum with the Georgia government of the United States on September 12, 2007 to invest US $60million to build a construction machinery R & D and manufacturing base. Its investment content is to invest US $60million in peach tree city in the state, and land 1600 mu to build Sany American R & D and manufacturing center, which will further radiate the Canadian and Mexican markets through the construction of production bases in the United StatesSany Heavy Industry stressed that the investment plan needs to be submitted to the board of directors of the company for deliberation and approval, and reported to the national development and Reform Commission, the Ministry of Commerce, the State Administration of foreign exchange and other relevant departments for approval before implementation. At present, we can see that the national development and Reform Commission has passed this pass
many insiders believe that Sany's project will be beneficial to the company's overseas market expansion, but one person said that Sany's current progress in the project is only to buy land, and may not be completed soon. "At first, it may be assembly."
at present, Sany Heavy Industry Association has not announced what products it will invest in the region. Another industry insider believes that the U.S. economic environment showed signs of weakness in more than 60 Japanese enterprises such as Mitsubishi, Nissan, Toyota, Volkswagen and Xerox in the second half of last year due to the subprime debt problem, which may have an impact on the promotion of Sany Heavy Industry Project
an authoritative person from Sany confirmed to yesterday that the project had begun, but the specific details were not disclosed
Sany's core products are concrete pump trucks and cranes, which are mainly used in large-scale infrastructure projects such as bridges and the real estate market. "The United States obviously has a lot of problems in the real estate market." Insiders said
however, it can be seen from a survey data of American machinery industry that the development expectation of local machinery industry is still relatively optimistic. It is reported that the annual forecast report recently released by the American machinery and equipment manufacturers association said that the demand for construction machinery in the U.S. market will decline by 1.9% in 2007, while the demand in the Canadian construction machinery market is average, and the demand is expected to decline by 0.1%. However, the world construction machinery market will grow by 9.9%. Overall, the North American construction machinery manufacturing industry has shown signs of slowing down after several years of good sales performance. The subprime crisis in the United States has had an impact on the construction machinery industry, but non residential construction projects have made up for the losses brought by the real estate market
the association's 3. Production of test samples further said that it was expected that the sales of concrete machinery and equipment in the United States, Canada and other parts of the world would increase by 5.2%, 6.2% and 10.1% respectively in 2008. In 2008, it is expected that the hoisting machinery and equipment in the United States, Canada and other parts of the world will increase by 5.2%, 1.3% and 11.9% respectively. Sany's flagship products are basically in these two major machinery sub industries
it is also understood that Sany Heavy Industry has also invested US $60million in the construction machinery production base in India, and insiders estimate that the project is advancing faster than the American project. On February 24 this year, the Chinese commercial counselor to India inspected Sany Heavy Industry (India) Co., Ltd. in Pune, 150 kilometers northeast of Mumbai. Sany Heavy Industry (India) Co., Ltd. was established in 2002, with a sales revenue of 240million yuan in India in 2007