Sany Heavy Industry (SHI) plans to list its excavator-manufacturing group on the Hong Kong stock exchange in an effort to boost sales of its earthmoving machines.
“To develop its excavation machinery business, tap the international market, raise its international competitiveness, boost its innovativeness, Sany Heavy’s 100-percent owned subsidiary Sany Heavy Machinery China will list on the mainboard of the Hong Kong Stock Exchange,” according to the company's announcement.
SHI makes concrete pumps and cranes, as well as other nonearthmoving equipment.
“The products of SHI and Sany Heavy Machinery China are completely different. There is a clear difference between their sales models, clients and raw material suppliers,” the company said.