Liu Gong to buy HSW Dressta
| March 24, 2011 |
Chinese heavy equipment manufacturer Lui Gong announced Wednesday that it would be acquiring the Polish manufacturer HSW Dressta.
The move will give the Chinese company a full line of bulldozers to sell from 74 to 515 horsepower and make it one of only seven manufacturers worldwide with a complete earthmoving product line. Dressta is the marketing arm of the Polish manufacturer HSW Construction Equipment Division, which has 17 manufacturing plants worldwide including one in India.
The deal was characterized by Liu Gong vice chairman and president Zeng Guang’an as the best of European design and technology with the best of Chinese heavy manufacturing efficiency. The deal will give Liu Gong control of all of HSW’s patents, technology, manufacturing facilities and distribution, and is expected to be finalized in late May or early June. HSW has 35 dealers in North America.
Liu Gong currently has 117 dealers and 883 outlets worldwide. Last year it sold 45 percent more machines than in 2009 and brought in $2.32 billion, a 51 percent increase. At ConExpo this year it is showing 14 new machines including a new line of forklifts. Liu Gong also announced its partnership with DLL Finance which will support dealers and customers with heavy equipment financing packages in the North American market.