XCMG Buys Control of Schwing

April 19, 2012

China’s Xuzhou Construction Machinery Group (XCMG) will take a majority share of Schwing. The move comes months after another Chinese equipment manufacturer, Sany, announced plans to purchase Putzmeister, a Schwing competitor.

According to a report in International Construction, XCMG plans to use the deal to increase sales in China. The Schwing Stetter brand will remain, and production will continue as normal.