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Zoomlion acquired CIFA

Zoomlion Heavy Industry Science & Technology Co., Ltd., created in the Changsha High-tech Zone in 1992, is mainly engaged in the R & D and manufacturing of major high-tech equipment required by construction project, energy engineering, environmental engineering, traffic engineering and other infrastructure. Zoomlion is the only heavy industry enterprise listed in Shanghai and Hong Kong stock exchange in China, a leading enterprise in Chinese construction machinery and equipment manufacturing, but also a globalized enterprise with ongoing innovation. The company has the registered capital of 7.706 billion Yuan, with more than 30,000 employees. In 2012, Zoomlion’s subordinate units had over 90 billion Yuan of operating revenues, with profit tax paid over 12 billion Yuan.

CIFA Company (CompagniaItalianaFormeAcciaioS.pA) founded in 1928, with its headquarter set up in Senago near Milan, Italy, is a world-class manufacturer in concrete machinery, has a long history of concrete machinery-related business, with a good reputation in products and brands in the industry.

In the second half of 2007, the major shareholder of CIFA, Magenta equity fund decided to disband itself due to its own reason, and needed to sell the CIFA equity held by it. After knowing the news, Zoomlion immediately began to make preparations for the acquisition.

Through consultations and preparations of several parties, Zoomlion, together with Hony Capital, Goldman Sachs and Mandarin Capital Partners, officially acquired 100% of stocks of the Italian CIFA company On June 25, 2008. In the afternoon of September 28, Zoomlion, with Hony Capital, Goldman Sachs, Mandarin Capital Partners and CIFA, signed in Changsha World Window the overall acquisition settlement agreement, and finished the full acquisition of CIFA shares in the way of cash. Zoomlion also became the world’s largest concrete machinery manufacturer.

After five years of operation, Zoomlion and other shareholders of the Hong Kong CIFA Company went through the formalities for equity settlement on September 9, 2013, which indicated that Zoomlion wholly controlled the Italian CIFA company in concrete machinery manufacturing ranked third in the world. Thus, there was a perfect ending for the largest overseas acquisition project in Chinese construction machinery industry.

After 5-year merger and integration, Zoomlion and CIFA has had seamless integration in product, technology, sales and market, thus improving the company’s decision-making efficiency and management efficiency, with initial success in synergistic effect. At the same time, Zoomlion has accelerated the internationalization of the company’s overall layout and the process, and then finished the layout in Asia, the Americas, Eastern Europe and other international emerging markets, after the success of high-end market layout in western Enrope, by CIFA market integration and technology integration, with the establishment of a global model in the international dimension.