LiuGong Machinery Corp., based in Liuzhou, China, has finalized its agreement to acquire HSW (Huta Stalowa Wola) and its distribution subsidiary, Dressta Co, Ltd., company executives announced. The agreement was signed by both companies’ executives in Warsaw, Poland.
David Beatenbough, currently Vice President of Research and Development for LiuGong, has been named Chairman of the Board of the new entity, LiuGong Machinery (Poland). The transaction is LiuGong’s first outright acquisition outside its domestic market.
HSW is a respected producer of bulldozers and other crawler machines. It is one of only seven manufacturers worldwide producing a complete line of bulldozers, from 74 Hp to 520 Hp. The Polish government was the primary owner of HSW. It agreed in principal to sell to LiuGong earlier this year with the signing of a preliminary enterprise acquisition agreement in Beijing, China.