Chinese firm eyes first US plant
BEIJING (AFP) — Sany Heavy Industry Co is likely to become China's first construction equipment maker to own a plant in North America, state media reported Thursday.
The company, a top maker of excavation machines, signed a memorandum of understanding Wednesday with the US state of Georgia to build a manufacturing facility with an investment of 60 million dollars, the China Daily said.
"The project in the US will further boost our competence in the global market," said He Zhenlin, the company's vice president, according to the paper.
If approved, it will be Sany's second overseas manufacturing facility, following an earlier memorandum of understanding to build a plant in India, also valued at 60 million dollars.
Exports, mostly to developed countries, currently account for less than 20 percent of Sany's sales revenue, but it hopes the overseas facilities will help it boost that percentage, according to the paper.
The China Daily said no other Chinese construction equipment maker had yet to own a factory in the United States, home to global industry giants such as Caterpillar.
