Sany-Palfinger JV Opens with New Products Reaching Market Soon

The first three new models of products developed by the company have rolled off the production line and will reach the market by the end of the month.

The first JV ever entered by Sany Palfinger SPV Equipment Co., Ltd was officially incorporated on September 5, 2012. Mr. Christoph Kaml, CFO of Palfinger, and Mr. Qi Jian, General Manager of Sany Mobile Cranes Co., Ltd, cut the ribbons and unveiled the plaque at the opening ceremony. The first three new models of products developed by the company have rolled off the production line and will reach the market by the end of the month.

According to inside information, Sany and Palfinger began to align their technologies as soon as an agreement was reached on cooperation. Through thorough investigation of the Chinese market, Sany Palfinger SPV Equipment Co., Ltd developed three new models: straight boom SPS20000, straight boomSPS30000, and knuckle boomPK32080.

Taking advantages of the two companies' technological knowhow, R&D capabilities, and manufacturing technologies, these three new models feature new hydraulic systems, a octagonal super-long boom, optimized overall structure, lighter dead weight, higher working efficiency, and greater hoisting power. The new models, which will reach the market in September, have already aroused the curiosity of truck mounted crane buyers with their unique exterior and outstanding performance.

Mr. Kaml said after inspecting the new products that he was confident in the quality of the new products and had great expectations for their future sales. Mr. Qi said that Palfinger's technology and brand married with Sany's marketing and sales networks, the Sany -Palfinger company would rapidly penetrate the Chinese market for truck-mounted cranes and change the landscape of the Chinese truck-mounted crane market.

Sany Palfinger SPV Equipment Co., Ltd plans to build an industrial park in Ningxiang, a district in Changsha, China, where Sany Heavy Industry is headquartered. The 200,000m³ industrial park will be completed in two phases, with phase one put to use by the end of 2013 with a 5,000 unit/year capacity; and phase two put to use by the end of 2015 with a capacity double that of 2013. Going forward, by 2016, annual sales is projected to be around 2 billion yuan, the biggest in China. At the end of February this year, Palfinger and Sany Heavy Industry agreed and established two joint venture companies. The first Sany Palfinger SPV Equipment Co., Ltd will produce and sell Palfinger products in China for the Chinese market. The second Palfinger Sany International Mobile Cranes Sales GmbH with its registered office in Salzburg will distribute mobile cranes produced by Sany in Europe and CIS.