Sany Heavy Industry Co, one of China's biggest heavy machinery makers, has won government approval to build a machinery production plant and research and development (R&D) center in Germany, the latest step in its overseas expansion.
The National Development and Reform Commission, China's top economic planning body, also revealed today in a brief statement on their website that the Hunan-based company has received the go-ahead to raise its stake in Sany International Development Co.
The statement did not reveal details about Sany's investment in Germany and the company was unavailable for comment on the issue today.
Sany had earlier unveiled plans to build a $100-million plant near Atlanta to assemble concrete mixers, a move that would make it the first Chinese machinery maker to set up shop in the North American market. The company also has operations in India and other countries.
(China Daily December 24, 2008)
