Area served Worldwide Revenue 15.46 billion USD Type of business State-owned enterprise | Founded 2009 | |
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Industry AutomotiveHeavy equipment Key people Tan Xuguang (Chairman and Chief Executive Officer) Website www.shig.com.cn/en/default.html Subsidiaries Weichai Power, Weichai Group, Shantui | ||
Shandong Heavy Industry Group Co., Ltd. is a Chinese state-owned multinational heavy machinery and automotive manufacturing company headquartered in Jinan, Shandong.
Contents
Shandong Heavy Industry has four listed companies: Weichai Power (2338HK/000338SZ), Weichai Heavy-Duty Machinery (000880SZ), Yaxing Bus (600213SH) and Shantui Machinery (000680SZ).
History
Shandong Heavy Industry was founded in 2009 through a merger between Weichai Holding Group, Shandong Construction Machinery Group and Shandong Auto Industrial Group.
In August 2012, Shandong Heavy Industry agreed to acquire 75% of the Italian yacht maker Ferretti Group for €178 million, plus the provision of €116 million of new credit facilities.
In August 2012, Shandong Heavy Industry's Weichai Power subsidiary agreed to acquire a 25% stake in the German forklift maker KION Group for €467 million, and a 70% majority stake in Kion's hydraulics business for €271 million.
Operations
Shandong Heavy Industry has five principal operating subsidiaries: Weichai Holding Group Co., Ltd. (the parent company of Weichai Power), Shantui Construction Machinery Co., Ltd., Shantui Machinery Co., Ltd., Shanzhong Construction Machinery Co., Ltd., and Shandong Auto Industry Group Co., Ltd.