Schwing, Xuzhou form partnership
| July 20, 2012 |
Schwing and Xuzhou Construction Machinery (XCMG) finalized the strategic partnership they announced in April. Under this agreement, XCMG will gain a majority of the shares in Schwing. Gerhard Schwing, CEO of Schwing , and Wang Min, Chairman of XCMG, signed the contract in Essen, Germany, on July 6.
The parties agreed on confidentiality of the financial details of the transaction.
Schwing and XCMG will secure the German operations for at least five years. The Schwing management under CEO Gerhard Schwing will continue to act independently from Herne going forward.
From our partners
This is part two of a three-part series on the importance of clean oil. Read part one here. Take…
More From: Industry Briefs
- Parsons Brinckerhoff awarded contract for construction engineering and inspection services for I-4 widening in Florida
- Newmont Mining Company names Metso as supplier of the year
- Blastrac opens Greenville, S.C. location, adds Ricky Norkett and Mike Lancaster to ‘Team Blue’
- Michael F. Donnino elected to ARTBA’s executive committee
- Winners announced for student video contest on transportation issues
- Volvo Trucks names Göran Nyberg...