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CIFA positions Chinese operator as world's top gun in concrete machinery

Published Friday, August 01, 2008

A consortium led by Changsha Zoomlion Heavy Industry Science and Technology Development Co. in Changsha, China, and financial investors has agreed to acquire Milan-based CIFA SpA. The all cash deal will create what Zoomlion officials note is the world's largest concrete machinery manufacturer by revenue, with sales and service networks in most major markets around the world. CIFA investors include Magenta Fund, a private equity firm that took a majority stake in the concrete transportation and construction equipment manufacturer in 2006. “CIFA will enable Zoomlion to expand its market leadership in concrete machinery to the mature European markets ...

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