Forbes magazine has ranked Sany No. 85 on its 2012 list of the world’s 100 most innovative companies, the second consecutive year Sany has made the ranking.
Sany Heavy Industry, the publicly traded parent company of Sany America, was one of seven China-based companies to make the Forbes Top 100 list for 2012. Sany was among five construction equipment manufacturers to make the ranking.
Forbes uses something they call the “innovation premium” to calculate the rankings, based on each company’s projected income (cash flow) and its market capitalization. Sany had a 12-month sales growth of 32.4 percent and five-year annualized total return of 16 percent to garner an innovation premium of 19 percent, according to Forbes.
“This is the result of years of investment and hard work,” said Tim Frank, chairman of Sany America. “We have made research and development the focus and center point of our growth strategy. It is reflected in our equipment lineup and our financial results.”
On average, Sany invests 5-7 percent of annual revenue in research and development activities, higher than industry averages. Globally, more than 7,000 Sany employees are involved in R&D — half have master’s degrees or doctorates. In addition to its R&D centers of excellence in China, Sany has opened research and development operations in the United States, Brazil, Germany and India.