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Mar 12, 2014

TRUCKMAKERS NEWS * China: Zoomlion

* Hunan - Zoomlion nears deal for heavy-truck joint venture in diversification push

(Photo: Reuters - Zoomlion's overseas operations contribute to about 10 per cent of its revenue, helped in part by its acquisition of Italian concrete machinery maker CIFA in 2008) 
Changsha,Hunan,China -Reuters -10 March, 2014: -- The mainland's construction equipment maker Zoomlion Heavy Industry Science and Technology is close to signing a heavy-truck joint venture with a major global player as it seeks to diversify the types of equipment it manufactures and sells, its chairman said yesterday... Zoomlion, which was hit hard by an industry downturn last year, would resume growth this year, helped in part by the mainland's urbanisation drive, Zhan Chunxin said... Other global truck makers have also set their sights on the mainland where a massive urbanisation drive is pushing up demand for heavy trucks... Daimler Trucks finalised a deal with Beijing Automotive's truck unit Beiqi Foton Motor in September 2011. Sweden's Volvo also teamed with Dongfeng Motor to build a heavy-truck plant early last year...

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