Photo Courtesy Schwing America Inc. Schwing America emerged from Chapter 11 bankruptcy in 2010. Its German parent is now being acquired by China-based XCMG. China's Xuzhou Construction Machinery Group, or XCMG, is acquiring a majority stake in Germany's Schwing Group GmbH. The deal, announced at the Intermat construction show in Paris last month, confirms earlier reports in ENR and falls on the heels of another Sino-German acquisition, that of Putzmeister Holding GmbH by Sany Heavy Industry Co. Ltd.German management will remain in charge, said XCMG in a statement. The 78-year-old Schwing brand name is a critical part of XCMG's "strategic
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.