Carlyle Group Reduces Share Stake to 45%

The case of Carlyle's acquisition on Xuzhou Construction Machinery Group (XCMG) that lasted wavily for above two years was finally ended that Carlyle Group completely abandoned the shareholding claim to enter into the "case close" phase. Recently, XCMG signed the acquisition agreement with U.S. Carlyle Group and Carlyle Group further reduced the share stake. Under that agreement, XCMG and Carlyle Group will hold 55% stake and 45% stake of XCMG respectively and XCMG finally grasped the shareholding right.
The further compromise of Carlyle Group indicated that the policy audit approval has exerted increasing effects on the "Beheading" acquisitions of foreign capitals.
To Resolve Actual Problems for Non-Public Ownership Enterprises
The Hunan Seminar for Expediting Economic Development of Non-Public Ownership Enterprises held recently demanded to pressingly enhance the support strength on non-public ownership enterprises, resolve the actual problems of non-public ownership enterprises such as capital raise difficulties, and land use difficulties, achieve the unified treatment for non-public ownership enterprises and public ownership enterprises, pressingly increase the financial support strength to increasingly increase the proportion for support of non-public ownership economy, and further optimize the development conditions of non-public ownership economy to achieve "more services, less intervention" and "more helps, less troubles".
Changsha Is about to Build into World Engineering Machinery Metropolis
It's learnt from the Meeting for Construction of Changsha Economic Development Park held on Mar. 18 that Changsha Economic Development Park was striving to build 4 engineering machinery supply-chain parks to lay the foundation for building Changsha into world engineering machinery metropolis in the future.
Such four engineering machinery supply-chain parks include: Sany Heavy Industry Pumping Machinery Park, Zoomlion Puyuan Engineering Crane Park, Sunward Intelligent Engineering Machinery Supply-Chain Park, and Sunward Intelligent Aerospace Industry Park, with above 10 billion RMB annual production value growth after putting into production.
Top Management of Caterpillar Visits Sany
On Mar. 11, Mr. Jim Parker, Vice President of Caterpillar Group, and Mr. Mak, Global Managing Director of OEM SOLUTIONS Group together with China Regional Manager visited Beijing Sany Heavy Machinery Co., Ltd., receiving warm greetings from Mr. Xiang Wenbo, Executive President of Sany Group, and Mr. Li Zhongyin, General Manager of Beijing Sany Heavy Industry.
Being the leading enterprise in the world engineering machinery industry and bearing the task of satisfying the market and users' demands for continual upgrade, the final purpose of Caterpillar is to build more value for the users; Being the leading enterprise in domestic engineering machinery, one of Sany's objectives is to build the world's national brand to change the world's behindhand prejudices on China engineering machinery industry. Both parties had mutual viewpoints in terms of sense of value, guarantee of world level product quality, service quality, and value establishment for users. This meeting has laid the good foundation for the cooperation of both parties in the wider sector in the future.