In a stand opening ceremony, Zhan Chun Xin, Zoomlion CEO, mentioned the company’s September acquisition of Italian concrete pump manufacturer CIFA. “Now Zoomlion has a solid step toward internationalisation, in what we hope is a new way of integration into the global market.”
He also said, “Every company participating [in Bauma China] must have a global view and global strategy.”
The Italian concrete pump manufacturer CIFA was just one of three acquisitions that Zoomlion made this year, according to Jianguo Zhang, Zoomlion executive president. Responding to a question during a press conference about the company’s acquisition plans for 2009, Zhang said: “It is true that Zoomlion has purchased large companies in the domestic market and abroad. But international development does not only include international purchases. Overseas, it is a complicated situation to balance purchase objects. Zoomlion chooses targets whose products complement those of Zoomlion.”
In prepared remarks at the press conference, Zoomlion chairman Guojian Long said that there were four aspects to the company’s export strategy. First, it has set a goal of 60% of revenue from exports. Second, it plans to develop international manufacturing and sales systems. “It is a basic feature of a global manufacturer, and the main cause lies in the controllability of global resources. Diversified developing opportunities brought by regional diversity enhance the capacity of the enterprise to fight risks,” he said. The company plans to have set up 35 branches and 160 service centres outside China by 2010.
Third, it plans to improve technical development to make ‘design and techniques meet international requirements’ and implement ‘reasonable and progressive’ personnel decisions. “We will innovate on the basis of promising traditional Chinese culture to build a modern and open enterprise culture system.”
Fourth, it expects to come up against cultural clashes, but has a plan to deal with them. “Overseas development will certainly face the problem of choosing management teams. Frequently the differences of geography and culture will lead to the clash of values. But we believe that the solution to these cultural problems should rely on cultural [contents],” Long said.
At the show, Zoomlion launched a V series of truck crane with a new cab design and other improvements. On show were 90t, 120t and 150t capacity models with 48m, 57.5m and 59m booms. A 220t-capacity all terrain crane launched earlier this year with six axles and 61m boom was also shown. Zoomlion has reportedly finished designing a 350t-capacity all terrain which it plans to release in 2009. Also on show was a new 260t-capacity crawler crane. The crawler has a maximum main boom length of 83m, and a luffing jib system length of 62m+60m. Maximum luffing jib lifting capacity is 73.5t. The crane carries a maximum of 83.5t counterweight.
