Sany Heavy Industry ranks 85 among Forbes’ Most Innovative Companies
| September 19, 2012 |
Forbes magazine has ranked Sany number 85 on its 2012 list of the world’s 100 most innovative companies. This is the second year in a row Sany has made the list.
Sany Heavy Industry, the publicly traded parent company of Sany America, was one of seven China-based companies to make the Forbes Top 100 list for 2012. Sany was among five construction-equipment manufacturers to make the ranking.
A number of Sany’s accomplishments went into Forbes’ “innovation premium” calculations, which is the system Forbes uses to rank companies on the list.
Sany had a 12-month sales growth of 32.4 percent and five-year annualized total return of 16 percent to garner an innovation premium of 19 percent, according to Forbes.
On average, Sany invests 5-7 percent of annual revenue in research and development activities. Globally, more than 7,000 Sany employees are involved in R&D; half have master’s degrees or doctorates. In addition to its R&D centers of excellence in China, Sany has opened research and development operations in the United States, Brazil, Germany and India. A factory just opened near Shanghai that can produce an excavator every five minutes. Sany Group is also investing $1.6 billion to build the Sany Marine Heavy Industrial Park, a 9,000-acre seaside campus near Zhuhai, China, which will produce port equipment and marine engineering and shipbuilding machinery.
For more information about Sany, visit sanygroup.com.
To view the entire Forbes Most Innovative Companies list, click here.