Sany | Electric | Heavy Industry--Sany Group To Restructure Assets

January 12 -- Sany Group may list its non-listed equipment manufacturing assets, reports National Business Daily, citing a senior manager of the group.

The senior manager said the group’s sales revenue grew 63 percent year-on-year in 2010 to 50 billion yuan.

Sany Group has two listed subsidiaries, Sany Heavy Industry (600031) and Sany Heavy Equipment International Holdings (0631.HK).

Sany Heavy Industry is currently preparing for an initial public offering in Hong Kong. The group owns other non-listed subsidiaries, including Sany Electric, Beijing Sany Heavy Machinery, Sany Heavy Industries, Sany Mobile Crane and Sany Port Machinery.

Sany Electric specializes in the manufacturing of new energy and automatic equipment. Beijing Sany Heavy manufactures general engineering equipment.

Sany Heavy Industries is the main subsidiary of Sany Group which is engaged in the manufacturing and sale of engineering equipment and in research and development. Sany Port specializes in the production of port machinery.

Sany Group currently owns factories in India, Germany, the U.S. and Brazil and has a marketing network throughout the world. The group will invest $100 million to build a factory to manufacture heavy equipment in South Korea.

Source: Capital Vue