10-year anniversary for XCMG and Schwing
Chinese OEM XCMG and Germany-based Schwing
have celebrated the 10-year anniversary since XCMG acquired majority control of
the concrete equipment company.
In
2012 XCMG acquired 52% of Schwing, becoming its largest and majority
shareholder. Currently, XCMG holds 93% of Schwing’s shares.
According
to XCMG, just a few years after the acquisition Schwig released dozens of new
products and several new technologies were developed, one of which was the
world’s first oil-free cylinder technology.
The
two companies are said to work closely together. XCMG has taken advantage of
Schwings’s manufacturing facilities in India and the US by building new plants
alongside or using existing plants to realise the local production of XCMG
branded products.
Through
Schwing’s direct sales network in India, XCMG sold more than 4,000 sets of its
own brand equipment, including rotary drilling rigs, motor graders and
excavators, expanding extensively into the South Asian and Southeast Asian
markets. Sales of Schwing’s industrial pumps are said to be growing
exponentially through XCMG’s channels in China.
