Tuesday April 3rd, 2018
On February 28, 2012 the PALFINGER and SANY companies signed the constitutive treaty of two cooperation management enterprises, in each of which belonged to the companies on 50 percent of shares.
PALFINGER SANY (the official name PALFINGER SANY International Mobile Cranes Sales GmbH) – the cooperation management enterprise founded by two companies: PALFINGER AG (the international producer of cranes, hydraulic lifting systems for commercial motor and ship transport) and SANY Heavy Industry Co. Ltd. (the Chinese international manufacturing company of the heavy equipment), each of which possesses 50 percent of shares.
The PALFINGER SANY company is engaged in international sales and service, is an exclusive distributor of self-propelled SANY cranes on wheel to the course in Russia, the CIS countries and Europe
First cooperation management enterprise: Sany Palfinger generally makes and sells production of Palfinger in the Chinese market.
Second cooperation management enterprise: Palfinger Sany is engaged in distribution of the self-propelled Sany cranes manufactured in China, generally in the European Union countries and the CIS. Lawful establishment of the second cooperation management enterprise took place on September 4, 2012 (distribution: Palfinger AG – 50% and Sany Belgium Holding S.A. – 50%).
On September 30, 2013 the basic arrangement was expanded due to acquisition of a 10 percent share in each company. The first and official start in the market – at the international industrial exhibition CTT in Moscow on June 4-6, 2013. The Palfinger Sany company showed 25-and 50-ton truck cranes at the exhibition Sany stand with certification for the market of the Customs Union.