Green light for Zoomlion-CIFA merger

A vote has been passed by the shareholders of Zoomlion Heavy Industry in favour of a merger with Italy-based CIFA S.p.A, a firm best known for its line of concrete pumps and related equipment such as batching plant.

Back in June, Zoomlion and its partners had bought 100% of CIFA stakes, In a statement the company said; "Upon completion of the acquisition, with the CIFA brand, technology and channel resources, Zoomlion could become a first-class brand in construction machinery manufacturing".

Many new tower cranes throught the region hail from China as the lead times are usually less than four months, instead of the two years plus that the German manufaturers have.

In the UAE Zoomlion is well known for its cut-price tower cranes. The firm is currently putting the finishing touches on a new facility in Jebel Ali.

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM