Sany to Buy Putzmeister

January 30, 2012

Sany has put together a deal to acquire Putzmeister, bolstering its worldwide presence in the concrete pumping industry.

The transaction is said to be worth over $600 million and would give Chinese manufacturer Sany significant inroads to the European market.

According to the companies, Aichtal, Germany, home of Putzmeister, will become Sany's new headquarters for concrete machinery outside China. Plans are to present Putzmeister as a premium brand in China.

Norbert Scheuch will remain as Putzmeister CEO but would join Sany's board.