CIFA aquired by Zoomlion

The Chinese heavy equipment manufacturer Zoomlion in a consortium with other investors has acquired CIFA S.p.A, the Italian parent company of CIFA USA. Total transaction value was pegged at $667.5 million. CIFA USA, which celebrated the anniversary of its tenth year in the United States, made the announcement at the World of Concrete. Existing CIFA products will continue to be produced under by CIFA and sold under its name and a double brand strategy is being implemented in some test areas for the concrete business. Combining the European and Chinese manufacturers will create the world’s largest concrete machinery manufacturer in the world, according to the company press release.

CIFA USA recently introduced its Formworks division in the United States, and showed their latest L-series six section, 52-meter concrete pump and the 40 meter, Z-boom class.