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China's Largest Equipment Manufacturer Said Taking Stake in Schwing

"This might be a good chance for us," said Derek Lee, regional sales manager for Korean pump maker JunJin Heavy Industry Co. Ltd. "People like a German product, not a Chinese product. People might not want to go to Schwing."

On January 25, Manfredi confirmed in a phone interview with ENR that a "Chinese crane manufacturer" had made a "capital investment" in Schwing. Another analyst, who asked not to be named, said in an e-mail exchange that the buyer is XCMG, whose stock is listed on the Shanghai Stock Exchange with a market capitalization of $5.36 billion.

China is the world's largest market for truck-mounted concrete pumps, accounting for roughly 4,000 of the 6,000 machines produced worldwide last year. Sany alone has capacity for about 800 units per month. The U.S. market is expected to reach just 120 units this year.

After a short stint as a freelance contributor to ENR, Tudor joined the editorial staff in 2002 and was a managing editor. His areas of expertise included construction equipment, trucks, tools, materials and global construction. He was a certified crane operator and reported heavy construction news in the U.S. and outside—including Europe, Dubai, India and China.

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