XCMG, crane--XCMG Invests 5B Yuan To Build Crane Production Base

September 29 -- Xuzhou Heavy Machinery, a subsidiary of XCMG Group, started the construction of its crane production base in Xuzhou, Jiangsu province on September 26, reports 21st Century Business Herald.

According to an insider of XCMG Group, investment in the production base will reach five billion yuan.

XCMG Construction Machinery (000425), another subsidiary of XCMG Group, predicts that after the production base is put into operations, it will produce 3,000 units of cranes and contribute sales revenue of 4.09 billion yuan.

According to the semi-annual report, XCMG Construction Machinery recorded first half crane sales revenue of 6.96 billion yuan.

Source: Capital Vue