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{{Infobox company
{{Infobox company
| name = Sany Heavy Industry Co., Ltd.
| name = SANY Heavy Industry Co., Ltd.
| logo = [[File:Sany logo-horizontal.svg|200px|Sany Group logo]]
| logo = [[File:Sany logo-horizontal.svg|200px|Sany Group logo]]
| type = [[Limited company]]
| type = [[Limited company]]
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{{Chinese|c=三一重工股份有限公司|p=Sānyī Zhònggōng Gǔfèn Yǒuxiàn Gōngsī|l=Sany Heavy Industry Co., Ltd.}}
{{Chinese|c=三一重工股份有限公司|p=Sānyī Zhònggōng Gǔfèn Yǒuxiàn Gōngsī|l=Sany Heavy Industry Co., Ltd.}}


'''Sany Heavy Industry Co., Ltd.''' ({{SSE|600031}}) is a Chinese [[Multinational corporation|multinational]] [[heavy equipment]] manufacturing company headquartered in [[Changsha]], [[Hunan Province]]. It is the 3rd-largest heavy equipment manufacturer in the world,<ref>KHL Group. [http://www.khl.com/videozone/item72304/ International Construction's Yellow Table 2012]</ref> and the first in its industry in China to enter the [[FT Global 500]]<ref>{China Construction Machinery Business Online. [http://www.cmbol.com/news/detail/2011/07/2011070414373752.shtm Sany enters into FT Global 500 becoming first in Chinese Construction Machinery Industry]</ref> and the [[Forbes Global 2000]]<ref>{{in lang|en}} Forbes magazine. [https://www.forbes.com/companies/sany-heavy-industry/ Sany Heavy Industry section]</ref> rankings. Its founder and main shareholder is [[Liang Wengen]].<ref>Forbes magazine. [https://www.forbes.com/profile/wengen-liang/ Forbes Magazine's List of Billionaires: #113 Liang Wengen]</ref>
'''SANY Heavy Industry Co., Ltd.''' ({{SSE|600031}}) is a Chinese [[Multinational corporation|multinational]] [[heavy equipment]] manufacturing company headquartered in [[Changsha]], [[Hunan Province]]. It is the 3rd-largest heavy equipment manufacturer in the world,<ref>KHL Group. [http://www.khl.com/videozone/item72304/ International Construction's Yellow Table 2012]</ref> and the first in its industry in China to enter the [[FT Global 500]]<ref>{China Construction Machinery Business Online. [http://www.cmbol.com/news/detail/2011/07/2011070414373752.shtm Sany enters into FT Global 500 becoming first in Chinese Construction Machinery Industry]</ref> and the [[Forbes Global 2000]]<ref>{{in lang|en}} Forbes magazine. [https://www.forbes.com/companies/sany-heavy-industry/ Sany Heavy Industry section]</ref> rankings. Its founder and main shareholder is [[Liang Wengen]].<ref>Forbes magazine. [https://www.forbes.com/profile/wengen-liang/ Forbes Magazine's List of Billionaires: #113 Liang Wengen]</ref>


Sany is especially known for its concrete machinery, for which it is globally ranked No.1. It is also a major supplier of excavators, cranes, wheel loaders and other heavy machines.
SANY is especially known for its concrete machinery, for which it is globally ranked No.1. It is also a major supplier of excavators, cranes, wheel loaders and other heavy machines.


Sany has a dozen industrial parks in China plus manufacturing facilities in [[Australia]], [[Belarus]], [[Brazil]], [[Canada]], [[Germany]], [[India]], [[Indonesia]], [[Kazakhstan]], [[Russia]], [[Ukraine]] and in the [[United States]].<ref>{{in lang|en}} Bloomberg. [https://www.bloomberg.com/news/2011-12-06/sany-eyes-plants-in-10-countries-as-china-excavator-demand-slows.html Sany eyes plants in 10 countries as China digger sales slow]</ref> The company has approximately 90,000 employees worldwide.<ref>{{in lang|en}} Sany Group website. [http://www.sanyexcavator.com/about-sany/index.html Corporate Overview]</ref>
SANY has a dozen industrial parks in China plus manufacturing facilities in [[Australia]], [[Belarus]], [[Brazil]], [[Canada]], [[Germany]], [[India]], [[Indonesia]], [[Kazakhstan]], [[Russia]], [[Ukraine]] and in the [[United States]].<ref>{{in lang|en}} Bloomberg. [https://www.bloomberg.com/news/2011-12-06/sany-eyes-plants-in-10-countries-as-china-excavator-demand-slows.html Sany eyes plants in 10 countries as China digger sales slow]</ref> The company has approximately 90,000 employees worldwide.<ref>{{in lang|en}} Sany Group website. [http://www.sanyexcavator.com/about-sany/index.html Corporate Overview]</ref>


== Name, logo and motto ==
== Name, logo and motto ==
The name "Sany" comes from the English pronunciation of the [[Chinese language|Chinese]] name of the company ({{zh|c=三一|hp=Sānyī}}), which means "three ones", in reference to the three goals the company mentions as its vision: "To build a first-class enterprise, to foster first-class employees, and to make first-class contributions to society". The logo of the company makes reference to this phrase, as it contains three number ones interlinked.
The name "SANY" comes from the English pronunciation of the [[Chinese language|Chinese]] name of the company ({{zh|c=三一|hp=Sānyī}}), which means "three ones", in reference to the three goals the company mentions as its vision: "To build a first-class enterprise, to foster first-class employees, and to make first-class contributions to society". The logo of the company makes reference to this phrase, as it contains three number ones interlinked.


== History ==
== History ==
[[File:2013_SANY_SY306C_Concrete_Mixer_Truck.JPG|thumb|A 2013 SANY SY306C Concrete Mixer Truck]]
[[File:2013_SANY_SY306C_Concrete_Mixer_Truck.JPG|thumb|A 2013 SANY SY306C Concrete Mixer Truck]]
[[File:Concrete pumping in Jyväskylä2.JPG|thumb|A Putzmeister concrete pump in operation]]
[[File:Concrete pumping in Jyväskylä2.JPG|thumb|A Putzmeister concrete pump in operation]]
The origins of Sany lie in Lianyuan Welding Material Ltd, a company founded in 1986 by [[Liang Wengen]], Tang Xiuguo, Mao Zhongwu and Yuan Jinhua, who left their previous jobs and first established the company with a capital of sixty thousand yuans in the town of Maotang, [[county-level city]] of [[Lianyuan]].{{cn|date=October 2020}}
The origins of SANY lie in Lianyuan Welding Material Ltd, a company founded in 1986 by [[Liang Wengen]], Tang Xiuguo, Mao Zhongwu and Yuan Jinhua, who left their previous jobs and first established the company with a capital of sixty thousand yuans in the town of Maotang, [[county-level city]] of [[Lianyuan]].{{cn|date=October 2020}}


In 1991 Lianyuan Welding Material Ltd. was officially renamed Sany Group Co., Ltd. and its headquarters were officially moved to Changsha. Since then, the company has experienced continuous rapid growth (at an annualized rate of around 50%), spurred by [[Economy of China|China's economic boom]], specifically growth in its construction sector.
In 1991 Lianyuan Welding Material Ltd. was officially renamed SANY Group Co., Ltd. and its headquarters were officially moved to Changsha. Since then, the company has experienced continuous rapid growth (at an annualized rate of around 50%), spurred by [[Economy of China|China's economic boom]], specifically growth in its construction sector.


Sany Heavy Industry Co., Ltd was founded in 1994 as a subsidiary of the Sany Group. Sany Heavy Industry went public on the [[Shanghai Stock Exchange]] on July 3, 2003. On June 17, 2005, the company conducted the split share structure reform and realized full circulation of its shares. After this event, its [[Market capitalization|market cap]] started growing at a very fast rate, jumping from a total of RMB 4 million yuan in 2005 up to a total of RMB 137 million yuan in June 2011.<ref>{{in lang|en}} Resale Weekly Blog. [http://www.resaleweekly.com/blog/?p=2046 Sany Heavy Industry Listed in 2011 FT Global 500]</ref>
SANY Heavy Industry Co., Ltd was founded in 1994 as a subsidiary of the SANY Group. SANY Heavy Industry went public on the [[Shanghai Stock Exchange]] on July 3, 2003. On June 17, 2005, the company conducted the split share structure reform and realized full circulation of its shares. After this event, its [[Market capitalization|market cap]] started growing at a very fast rate, jumping from a total of RMB 4 million yuan in 2005 up to a total of RMB 137 million yuan in June 2011.<ref>{{in lang|en}} Resale Weekly Blog. [http://www.resaleweekly.com/blog/?p=2046 Sany Heavy Industry Listed in 2011 FT Global 500]</ref>


Since its foundation, the headquarters of Sany have received official visits from several [[Politics of the People's Republic of China|political leaders]], including [[Hu Jintao]] and [[Wen Jiabao]].<ref>[http://www.sanyexcavator.com/about-sany/index.html About Sany Heavy Industry Co., Ltd.]</ref>
Since its foundation, the headquarters of SANY have received official visits from several [[Politics of the People's Republic of China|political leaders]], including [[Hu Jintao]] and [[Wen Jiabao]].<ref>[http://www.sanyexcavator.com/about-sany/index.html About Sany Heavy Industry Co., Ltd.]</ref>


In 2010 the operating income of Sany reached just under 34 billion RMB, a 79% year-on-year increase.<ref>{{in lang|zh}} Chinese Stock Information website. [http://www.chinesestock.org/shlistd.asp?id=600031 Sany Heavy Industry Co, LTD. Information]</ref>
In 2010 the operating income of SANY reached just under 34 billion RMB, a 79% year-on-year increase.<ref>{{in lang|zh}} Chinese Stock Information website. [http://www.chinesestock.org/shlistd.asp?id=600031 Sany Heavy Industry Co, LTD. Information]</ref>


During the [[2010 Copiapó mining accident]], a crane manufactured by SANY was used in rescuing the Chilean miners.<ref>{{cite news| url=https://blogs.wsj.com/chinarealtime/2011/03/22/china-concrete-pumper-gets-into-japannuclear-effort/?mod=WSJBlog&mod=chinablog | work=The Wall Street Journal | title=China Concrete Pumper Gets Into Nuclear Effort | date=22 March 2011}}</ref> A pump from the company was donated to the [[Tokyo Electric Power Company]] to assist with the emergency response to the [[Fukushima I nuclear accidents]].<ref>http://news.xinhuanet.com/world/2011-03/19/c_121207301.htm</ref>
During the [[2010 Copiapó mining accident]], a crane manufactured by SANY was used in rescuing the Chilean miners.<ref>{{cite news| url=https://blogs.wsj.com/chinarealtime/2011/03/22/china-concrete-pumper-gets-into-japannuclear-effort/?mod=WSJBlog&mod=chinablog | work=The Wall Street Journal | title=China Concrete Pumper Gets Into Nuclear Effort | date=22 March 2011}}</ref> A pump from the company was donated to the [[Tokyo Electric Power Company]] to assist with the emergency response to the [[Fukushima I nuclear accidents]].<ref>http://news.xinhuanet.com/world/2011-03/19/c_121207301.htm</ref>


In 2011, Sany signed several contracts to open new manufacturing centers, the most important of them include the [[Zhuhai]]<ref>{{in lang|en}} CapitalVue News. [http://www.capitalvue.com/home/CE-news/inset/@10063/post/1244381 SANY Group To Invest 10B Yuan In Zhuhai]</ref> and [[Lingang New City]]<ref>{{in lang|en}} CapitalVue News. [http://rightsite.asia/en/article/deals-worth-us18b-signed US$1.8 billion in deals signed for Shanghai Lingang Industrial Park]</ref> centers, and the fifth international equipment plant in [[Indonesia]], the latter with an investment of US$200 million.<ref>{{in lang|en}} Bisnis Indonesia. [http://www.bisnis.com/articles/chinas-sany-to-build-us$200-million-plant-in-indonesia China's Sany to build US$200 million plant in Indonesia]</ref>
In 2011, SANY signed several contracts to open new manufacturing centers, the most important of them include the [[Zhuhai]]<ref>{{in lang|en}} CapitalVue News. [http://www.capitalvue.com/home/CE-news/inset/@10063/post/1244381 SANY Group To Invest 10B Yuan In Zhuhai]</ref> and [[Lingang New City]]<ref>{{in lang|en}} CapitalVue News. [http://rightsite.asia/en/article/deals-worth-us18b-signed US$1.8 billion in deals signed for Shanghai Lingang Industrial Park]</ref> centers, and the fifth international equipment plant in [[Indonesia]], the latter with an investment of US$200 million.<ref>{{in lang|en}} Bisnis Indonesia. [http://www.bisnis.com/articles/chinas-sany-to-build-us$200-million-plant-in-indonesia China's Sany to build US$200 million plant in Indonesia]</ref>


In January 2012 Sany agreed to acquire a 90 per cent stake in [[Putzmeister]], a Germany-based manufacturer of concrete pumps, for €324 million, with Citic PE Advisors (Hong Kong) Ltd. agreeing to purchase the balance of 10 per cent.<ref>{{in lang|en}} Bloomberg. [https://www.bloomberg.com/news/2012-01-30/sany-citic-to-pay-471-million-for-german-cement-pump-maker-putzmeister.html Sany, Citic to Pay $475 Million for German Cement-Pump Maker Putzmeister]</ref>
In January 2012 SANY agreed to acquire a 90 per cent stake in [[Putzmeister]], a Germany-based manufacturer of concrete pumps, for €324 million, with Citic PE Advisors (Hong Kong) Ltd. agreeing to purchase the balance of 10 per cent.<ref>{{in lang|en}} Bloomberg. [https://www.bloomberg.com/news/2012-01-30/sany-citic-to-pay-471-million-for-german-cement-pump-maker-putzmeister.html Sany, Citic to Pay $475 Million for German Cement-Pump Maker Putzmeister]</ref>


In February 2012, Sany and [[Austria]]-based [[Palfinger]] announced a market venture to make and sell mobile cranes, a project with a total investment of $143 million, plus the construction of a sales unit in [[Salzburg]] for $5.4 million.<ref>{{in lang|en}} Bloomberg. [https://www.bloomberg.com/news/2012-02-28/sany-to-invest-143-million-in-mobile-crane-jv-with-austria-s-palfinger.html Sany to Invest $143 Million in Mobile Crane JV With Austria’s Palfinger]</ref>
In February 2012, SANY and [[Austria]]-based [[Palfinger]] announced a market venture to make and sell mobile cranes, a project with a total investment of $143 million, plus the construction of a sales unit in [[Salzburg]] for $5.4 million.<ref>{{in lang|en}} Bloomberg. [https://www.bloomberg.com/news/2012-02-28/sany-to-invest-143-million-in-mobile-crane-jv-with-austria-s-palfinger.html Sany to Invest $143 Million in Mobile Crane JV With Austria’s Palfinger]</ref>


In 2012, through affiliate Ralls Corp., Sany acquired four wind farm projects in [[Oregon]]. Later in the year, though, the [[Barack Obama|Obama Administration]] ordered the wind farms divested after it was determined their location next to the [[Naval Weapons Systems Training Facility Boardman|Naval Weapons Systems Training Facility in Boardman, Oregon]] represented a national security risk. The divestiture—the first of its kind since 1990—was ordered by the US [[United States Department of the Treasury|Treasury Department]], which chairs the interagency [[Committee on Foreign Investment in the United States|Committee on Foreign Investment]].<ref>Banerjee, Neela, and Don Lee, [http://www.latimes.com/news/custom/la-na-china-wind-farms-20120929,0,5616624.story "Obama blocks Chinese firm's Oregon wind farm projects"], LA ''Times'', September 29, 2012. Retrieved 2012-10-02.</ref>
In 2012, through affiliate Ralls Corp., SANY acquired four wind farm projects in [[Oregon]]. Later in the year, though, the [[Barack Obama|Obama Administration]] ordered the wind farms divested after it was determined their location next to the [[Naval Weapons Systems Training Facility Boardman|Naval Weapons Systems Training Facility in Boardman, Oregon]] represented a national security risk. The divestiture—the first of its kind since 1990—was ordered by the US [[United States Department of the Treasury|Treasury Department]], which chairs the interagency [[Committee on Foreign Investment in the United States|Committee on Foreign Investment]].<ref>Banerjee, Neela, and Don Lee, [http://www.latimes.com/news/custom/la-na-china-wind-farms-20120929,0,5616624.story "Obama blocks Chinese firm's Oregon wind farm projects"], LA ''Times'', September 29, 2012. Retrieved 2012-10-02.</ref>


In 2014, Sany's [[Huerfano River Wind Farm]] was acquired by Tamra-Tacoma Capital Partners. Tamra-Tacoma Capital Partners and Sany soon after announced plans to construct 1 [[gigawatt]] of wind infrastructure in the United States. The Huerafano acquisition marked Sany's first partnership with a U.S. mainland investment firm. Tamra-Tacoma Capital Partners initiated litigation against Sany America on August 31, 2016 alleging Sany fraudulently misrepresented the plant's production and had no maintenance program, leaving the asset "worthless" according to the complaint. On February 6, 2019 the case was settled and subsequently dismissed with prejudice.<ref>PACEMonitor. [https://www.pacermonitor.com/public/case/19052415/TTCP_Energy_Finance_Fund_II,_LLC_v_Ralls_Corporation_et_al TTCP v Sany/Ralls]</ref>
In 2014, SANY's [[Huerfano River Wind Farm]] was acquired by Tamra-Tacoma Capital Partners. Tamra-Tacoma Capital Partners and SANY soon after announced plans to construct 1 [[gigawatt]] of wind infrastructure in the United States. The Huerafano acquisition marked SANY's first partnership with a U.S. mainland investment firm. Tamra-Tacoma Capital Partners initiated litigation against SANY America on August 31, 2016 alleging SANY fraudulently misrepresented the plant's production and had no maintenance program, leaving the asset "worthless" according to the complaint. On February 6, 2019 the case was settled and subsequently dismissed with prejudice.<ref>PACEMonitor. [https://www.pacermonitor.com/public/case/19052415/TTCP_Energy_Finance_Fund_II,_LLC_v_Ralls_Corporation_et_al TTCP v Sany/Ralls]</ref>


In March 2017, Sany and [[Star Energy]] announced plans to construct 1 [[gigawatt]] of wind infrastructure in the United States.<ref>Wind Power. [http://nawindpower.com/sany-star-energy-plan-1-gw-north-american-wind SANY, Star Energy Plan 1 GW of North American Wind]</ref>
In March 2017, SANY and [[Star Energy]] announced plans to construct 1 [[gigawatt]] of wind infrastructure in the United States.<ref>Wind Power. [http://nawindpower.com/sany-star-energy-plan-1-gw-north-american-wind SANY, Star Energy Plan 1 GW of North American Wind]</ref>


== Operations ==
== Operations ==
{{Multiple image
{{Multiple image
| align = right
| align = right
| direction = vertical
| direction = vertical
| width = 180
| width = 180
| image1 = Sany Heavy Industry 3.jpg
| image1 = SANY Heavy Industry 3.jpg
| caption1 =The Sany factory in [[Loudi]], [[Hunan]] province
| caption1 = The SANY factory in [[Loudi]], [[Hunan]] province
| image2 =Putzmeister Aichtal.jpg
| image2 = Putzmeister Aichtal.jpg
| caption2 = The headquarters of Sany subsidiary [[Putzmeister]], in [[Aichtal]], Germany
| caption2 = The headquarters of SANY subsidiary [[Putzmeister]], in [[Aichtal]], Germany
| total_width =
| alt1 =
}}
}}

Sany Group is organised into the following major divisions and subsidiaries:
SANY Group is organised into the following major divisions and subsidiaries:
* '''Concrete Pump division''', based in Changsha, includes the [[Concrete pump|truck-mounted concrete pumps]], [[Concrete pump|stationary concrete pumps]], [[concrete mixer]]s, [[concrete plant]]s, etc.
* '''Concrete Pump division''', based in Changsha, includes the [[Concrete pump|truck-mounted concrete pumps]], [[Concrete pump|stationary concrete pumps]], [[concrete mixer]]s, [[concrete plant]]s, etc.
* '''Road construction division''', also based in Changsha, with the [[Paver (vehicle)|paver]], [[Road roller|roller]] and [[grader]] as their main products.
* '''Road construction division''', also based in Changsha, with the [[Paver (vehicle)|paver]], [[Road roller|roller]] and [[grader]] as their main products.
* '''Port machinery division''', originally based in Changsha but moving to the new facilities in [[Zhuhai]], providing [[Reach stacker|reachstackers]], empty container handlers, [[Gantry crane|ship-to-shore cranes]], [[Rail Mounted Gantry|rail-mounted gantry cranes]], [[rubber tyred gantry crane]]s, etc.
* '''Port machinery division''', originally based in Changsha but moving to the new facilities in [[Zhuhai]], providing [[Reach stacker|reachstackers]], empty container handlers, [[Gantry crane|ship-to-shore cranes]], [[Rail Mounted Gantry|rail-mounted gantry cranes]], [[rubber tyred gantry crane]]s, etc.
* '''Mobile crane division''', based in [[Ningxiang|Ningxiang City]], [[Hunan]], in charge of [[Crane (machine)#Truck-mounted crane|truck-mounted cranes]], [[Crane (machine)#Rough terrain crane|rough terrain cranes]] and [[Crane (machine)#All terrain crane|all-terrain cranes]].
* '''Mobile crane division''', based in [[Ningxiang|Ningxiang City]], [[Hunan]], in charge of [[Crane (machine)#Truck-mounted crane|truck-mounted cranes]], [[Crane (machine)#Rough terrain crane|rough terrain cranes]] and [[Crane (machine)#All terrain crane|all-terrain cranes]].
* '''Sany Electric Co., Ltd.''' in [[Beijing]], more specifically in [[Changping District]], is in charge of [[Wind power|wind power machinery]] products.
* '''SANY Electric Co., Ltd.''' in [[Beijing]], more specifically in [[Changping District]], is in charge of [[Wind power|wind power machinery]] products.
* '''Sany Heavy Machinery (Beijing) Co., Ltd.''' also located in [[Changping District]] manufactures [[pile driver]]s.
* '''SANY Heavy Machinery (Beijing) Co., Ltd.''' also located in [[Changping District]] manufactures [[pile driver]]s.
* '''Sany Heavy Machinery (Kunshan) Co., Ltd.''', in the city of [[Kunshan]] is the unit in charge of [[excavator]]s.
* '''SANY Heavy Machinery (Kunshan) Co., Ltd.''', in the city of [[Kunshan]] is the unit in charge of [[excavator]]s.
* '''Sany Heavy Equipment Co., Ltd.''', located in [[Shenyang]], and producing [[Coal mining|coal mining machinery]].
* '''SANY Heavy Equipment Co., Ltd.''', located in [[Shenyang]], and producing [[Coal mining|coal mining machinery]].
* '''Sany Science and Technology Co., Ltd.''', based in [[Shanghai]], and producing [[Crane (machine)|crawler cranes]].
* '''SANY Science and Technology Co., Ltd.''', based in [[Shanghai]], and producing [[Crane (machine)|crawler cranes]].


== NASCAR sponsorship ==
== NASCAR sponsorship ==
[[File:Dave Blaney, 2013 STP Gas Booster 500.JPG|thumb|The #7 SANY-sponsored Chevrolet at [[Martinsville Speedway]] in 2013.]]
[[File:Dave Blaney, 2013 STP Gas Booster 500.JPG|thumb|The #7 SANY-sponsored Chevrolet at [[Martinsville Speedway]] in 2013.]]
Sany sponsored the [[Tommy Baldwin Racing]] #7 driven by [[Dave Blaney]] in the [[NASCAR]] [[Sprint Cup Series]] in 14 races in 2013, while also serving as associate sponsor for 22 races.<ref>{{cite web|last=Buchanan|first=Mary Jo|url=http://www.speedwaymedia.com/?p=54356|title=NASCAR Has the Most Interesting Sponsors In Sports|publisher=Speedway Media|date=2 February 2013|accessdate=14 November 2013}}</ref>
SANY sponsored the [[Tommy Baldwin Racing]] #7 driven by [[Dave Blaney]] in the [[NASCAR]] [[Sprint Cup Series]] in 14 races in 2013, while also serving as associate sponsor for 22 races.<ref>{{cite web|last=Buchanan|first=Mary Jo|url=http://www.speedwaymedia.com/?p=54356|title=NASCAR Has the Most Interesting Sponsors In Sports|publisher=Speedway Media|date=2 February 2013|accessdate=14 November 2013}}</ref>


==References==
==References==
Line 104: Line 107:
==External links==
==External links==
{{Portal|China|Energy}}
{{Portal|China|Energy}}
{{Commons category|Sany Heavy Industry}}
{{Commons category|SANYHeavy Industry}}
* [https://www.sanyglobal.com/ SANY Global Official Website]
* [https://www.sanyglobal.com/ SANY Global Official Website]
* [https://www.bloomberg.com/apps/quote?ticker=600031:CH Bloomberg's Stock Quote & Analysis: Sany Heavy Industry Co., Ltd.]
* [https://www.bloomberg.com/apps/quote?ticker=600031:CH Bloomberg's Stock Quote & Analysis: SANY Heavy Industry Co., Ltd.]


{{SSE 50 companies}}
{{SSE 50 companies}}

Revision as of 07:33, 24 December 2020

SANY Heavy Industry Co., Ltd.
Company typeLimited company
SSE: 600031[1]
IndustryHeavy equipment
Founded1989 (1989) (Maotang, Lianyuan, Hunan Province)
FoundersLiang Wengen, Tang Xiuguo, Mao Zhongwu, Yuan Jinhua
Headquarters
Changsha
,
China
Area served
Worldwide
Key people
Liang Wengen (Chairman)
RMB 70 billion (2016)[2]
Number of employees
Approximately 90,000[3]
SubsidiariesPutzmeister
Websitewww.sanyexcavator.com www.sanyglobal.com
Sany
Chinese三一重工股份有限公司
Literal meaningSany Heavy Industry Co., Ltd.
Transcriptions
Standard Mandarin
Hanyu PinyinSānyī Zhònggōng Gǔfèn Yǒuxiàn Gōngsī

SANY Heavy Industry Co., Ltd. (SSE: 600031) is a Chinese multinational heavy equipment manufacturing company headquartered in Changsha, Hunan Province. It is the 3rd-largest heavy equipment manufacturer in the world,[4] and the first in its industry in China to enter the FT Global 500[5] and the Forbes Global 2000[6] rankings. Its founder and main shareholder is Liang Wengen.[7]

SANY is especially known for its concrete machinery, for which it is globally ranked No.1. It is also a major supplier of excavators, cranes, wheel loaders and other heavy machines.

SANY has a dozen industrial parks in China plus manufacturing facilities in Australia, Belarus, Brazil, Canada, Germany, India, Indonesia, Kazakhstan, Russia, Ukraine and in the United States.[8] The company has approximately 90,000 employees worldwide.[9]

Name, logo and motto

The name "SANY" comes from the English pronunciation of the Chinese name of the company (Chinese: 三一; pinyin: Sānyī), which means "three ones", in reference to the three goals the company mentions as its vision: "To build a first-class enterprise, to foster first-class employees, and to make first-class contributions to society". The logo of the company makes reference to this phrase, as it contains three number ones interlinked.

History

A 2013 SANY SY306C Concrete Mixer Truck
A Putzmeister concrete pump in operation

The origins of SANY lie in Lianyuan Welding Material Ltd, a company founded in 1986 by Liang Wengen, Tang Xiuguo, Mao Zhongwu and Yuan Jinhua, who left their previous jobs and first established the company with a capital of sixty thousand yuans in the town of Maotang, county-level city of Lianyuan.[citation needed]

In 1991 Lianyuan Welding Material Ltd. was officially renamed SANY Group Co., Ltd. and its headquarters were officially moved to Changsha. Since then, the company has experienced continuous rapid growth (at an annualized rate of around 50%), spurred by China's economic boom, specifically growth in its construction sector.

SANY Heavy Industry Co., Ltd was founded in 1994 as a subsidiary of the SANY Group. SANY Heavy Industry went public on the Shanghai Stock Exchange on July 3, 2003. On June 17, 2005, the company conducted the split share structure reform and realized full circulation of its shares. After this event, its market cap started growing at a very fast rate, jumping from a total of RMB 4 million yuan in 2005 up to a total of RMB 137 million yuan in June 2011.[10]

Since its foundation, the headquarters of SANY have received official visits from several political leaders, including Hu Jintao and Wen Jiabao.[11]

In 2010 the operating income of SANY reached just under 34 billion RMB, a 79% year-on-year increase.[12]

During the 2010 Copiapó mining accident, a crane manufactured by SANY was used in rescuing the Chilean miners.[13] A pump from the company was donated to the Tokyo Electric Power Company to assist with the emergency response to the Fukushima I nuclear accidents.[14]

In 2011, SANY signed several contracts to open new manufacturing centers, the most important of them include the Zhuhai[15] and Lingang New City[16] centers, and the fifth international equipment plant in Indonesia, the latter with an investment of US$200 million.[17]

In January 2012 SANY agreed to acquire a 90 per cent stake in Putzmeister, a Germany-based manufacturer of concrete pumps, for €324 million, with Citic PE Advisors (Hong Kong) Ltd. agreeing to purchase the balance of 10 per cent.[18]

In February 2012, SANY and Austria-based Palfinger announced a market venture to make and sell mobile cranes, a project with a total investment of $143 million, plus the construction of a sales unit in Salzburg for $5.4 million.[19]

In 2012, through affiliate Ralls Corp., SANY acquired four wind farm projects in Oregon. Later in the year, though, the Obama Administration ordered the wind farms divested after it was determined their location next to the Naval Weapons Systems Training Facility in Boardman, Oregon represented a national security risk. The divestiture—the first of its kind since 1990—was ordered by the US Treasury Department, which chairs the interagency Committee on Foreign Investment.[20]

In 2014, SANY's Huerfano River Wind Farm was acquired by Tamra-Tacoma Capital Partners. Tamra-Tacoma Capital Partners and SANY soon after announced plans to construct 1 gigawatt of wind infrastructure in the United States. The Huerafano acquisition marked SANY's first partnership with a U.S. mainland investment firm. Tamra-Tacoma Capital Partners initiated litigation against SANY America on August 31, 2016 alleging SANY fraudulently misrepresented the plant's production and had no maintenance program, leaving the asset "worthless" according to the complaint. On February 6, 2019 the case was settled and subsequently dismissed with prejudice.[21]

In March 2017, SANY and Star Energy announced plans to construct 1 gigawatt of wind infrastructure in the United States.[22]

Operations

File:SANY Heavy Industry 3.jpg
The SANY factory in Loudi, Hunan province
The headquarters of SANY subsidiary Putzmeister, in Aichtal, Germany

SANY Group is organised into the following major divisions and subsidiaries:

NASCAR sponsorship

The #7 SANY-sponsored Chevrolet at Martinsville Speedway in 2013.

SANY sponsored the Tommy Baldwin Racing #7 driven by Dave Blaney in the NASCAR Sprint Cup Series in 14 races in 2013, while also serving as associate sponsor for 22 races.[23]

References

  1. ^ Reuters retrieved 5 February 2012
  2. ^ Key Figures
  3. ^ Sany Group website, diversity
  4. ^ KHL Group. International Construction's Yellow Table 2012
  5. ^ {China Construction Machinery Business Online. Sany enters into FT Global 500 becoming first in Chinese Construction Machinery Industry
  6. ^ (in English) Forbes magazine. Sany Heavy Industry section
  7. ^ Forbes magazine. Forbes Magazine's List of Billionaires: #113 Liang Wengen
  8. ^ (in English) Bloomberg. Sany eyes plants in 10 countries as China digger sales slow
  9. ^ (in English) Sany Group website. Corporate Overview
  10. ^ (in English) Resale Weekly Blog. Sany Heavy Industry Listed in 2011 FT Global 500
  11. ^ About Sany Heavy Industry Co., Ltd.
  12. ^ (in Chinese) Chinese Stock Information website. Sany Heavy Industry Co, LTD. Information
  13. ^ "China Concrete Pumper Gets Into Nuclear Effort". The Wall Street Journal. 22 March 2011.
  14. ^ http://news.xinhuanet.com/world/2011-03/19/c_121207301.htm
  15. ^ (in English) CapitalVue News. SANY Group To Invest 10B Yuan In Zhuhai
  16. ^ (in English) CapitalVue News. US$1.8 billion in deals signed for Shanghai Lingang Industrial Park
  17. ^ (in English) Bisnis Indonesia. China's Sany to build US$200 million plant in Indonesia
  18. ^ (in English) Bloomberg. Sany, Citic to Pay $475 Million for German Cement-Pump Maker Putzmeister
  19. ^ (in English) Bloomberg. Sany to Invest $143 Million in Mobile Crane JV With Austria’s Palfinger
  20. ^ Banerjee, Neela, and Don Lee, "Obama blocks Chinese firm's Oregon wind farm projects", LA Times, September 29, 2012. Retrieved 2012-10-02.
  21. ^ PACEMonitor. TTCP v Sany/Ralls
  22. ^ Wind Power. SANY, Star Energy Plan 1 GW of North American Wind
  23. ^ Buchanan, Mary Jo (2 February 2013). "NASCAR Has the Most Interesting Sponsors In Sports". Speedway Media. Retrieved 14 November 2013.
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