First published on www.AggBusiness.com
Chinese construction equipment company Sany is buying Putzmeister, the German manufacturer of concrete pumps, in a deal said to be worth €360-500million.
Although the terms of the deal have not been revealed officially, the acquisition is a landmark deal for Sany which will give it access to premium quality concrete pumping technology.
While Sany has been developing its operations outside of China it has so far to develop a significant market share in western nations.
With Putzmeister added to its portfolio however the company now has a market leading brand to add to its range.
Putzmeister has been owned by the Schlecht family since it was established and this purchase marks a significant change for the firm.
Quite how the Putzmeister range will be incorporated into the Sany product line-up has yet to be revealed, although a dual brand strategy may be a possibility. It seems likely that Sany will wish to use the Putzmeister brand name due to its reputation for quality, performance and technology, as long as it is able.