XCMG Steps into Large-scale Tunneling Machinery Area

On the afternoon of December, 18, the signing ceremony of investment cooperation agreement and project launching at Binjiang Development Zone of JIANGNING between XCMG and Jiangsu KAIGONG Heavy Machinery Co., Ltd has been grandly held in Nanjing. Both companies shall manufacture shield machine and other types of large-scale tunneling machinery equipment through bilateral cooperation.
Being a grand enterprise group with the largest industrial scale, the most complete products’ categories, competitiveness and influence in the area of Chinese construction machinery industry, XCMG maintains the leading position consistently, ranking the 7th in the global construction machinery industry currently. Due to the huge potential markets and promising prospect, the future of tunneling machinery has drawn the attention of XCMG for further development with the hope of accelerating the expansion into the field of high-end equipment manufacturing.
By expanding investment and shareholding amount, XCMG becomes the largest shareholder of KAIGONG Heavy Machinery, which is renamed as XCMG KAIGONG Heavy Machinery Co., Ltd. After the overall construction followed by full operation, the sales revenue of the new company for the next five years targets at five billion RMB, making it the dominating enterprise of independent research and manufacturing in the Chinese high-end tunneling machinery industry including the shield machinery.
The XCMG President, Wang Min says that the high-end equipment manufacturing including the shield machinery is the key area that XCMG plans to accelerate at in the Twelfth Five-year Plan. The expanding investment and shareholding amount making it the largest shareholder of KAIGONG Heavy Machinery shall substantially accelerate the developing process of XCMG in the area of shield machinery. XCMG possesses strong industrial accumulation in brand value and equipment manufacturing, globalized R&D, purchase, marketing, service, logistics, informatization and other platforms. Through multilateral cooperation, it shall inject dynamic joint forces and initiatives to the new corporation in rapid advancement and speed-raising strides via the initial industrial accumulation of the existing shield equipment manufacturing of KAIGONG Heavy Machinery.

Zhou Qian, First Deputy Mayor of Nanjing City, delivers speech.

Wang Min, XCMG President, delivers speech.

Signing Ceremony Occasion

Agreement Signing between XCMG and KAIGONG