Zoomlion Grows in Italy, Control Ladurner 67 Million
The Chinese giant of construction machinery, Zoomlion, strengthens its position in Italy alongside the fund Mandarin Capital detecting 67 million over the company in Bolzano, Ladurner, specializing in technologies for waste disposal. The transaction, which passes through the purchase of shares and a capital increase, will permit Zoomlion to bring new technologies to China for the environment.
Shareholders will see Zoomlion to 57%, Mandarin Capital 18%, while the family Ladurner will drop to 25%.
The main reason for this acquisition, said to ANSA the founder and number one of Zoomlion, Zhan Chunxin, “answers our growth strategy that requires us to find suitable partners to grow together. In addition, Italy has an excellent industrial base and many healthy companies with good experience in the fields of technology, innovation as well as marketing and brand. Certainly with the purchase of industrial machines CIFA in 2008 we realized that Italy was the place where invest”.
“The acquisition of Ladurner,” he continued, “is not a financial operation but a real industrial integration. We have market objectives very clear. We know that China is heading for a major challenge in this area, since it is one of the priorities of the government. The country is giving much importance to the issue of the environment and, therefore, we expect significant investments.
At the moment we are still at the starting point but thanks to the synergies that will be emitted from the aggregation with Ladurner I can safely expect growth rates ranging from 50 to 100%. “The group of Bolzano right now has a turnover that is from 60,000,000 to 70,000,000 euro per year.
“The acquisition of Ladurner,” added the vice president of Zoomlion, Frank Zhang, who leads the environmental division of the group, “go through an investment of 67 million euro with purchase of shares and capital increase, thanks to which we will have the 57% of the company, while our partner Mandarin Capital will own 18% and the family will stay with 25%. At today Ladurner manages 30 projects in Europe in the design, construction and operation of plants for the treatment of solid waste and the production of renewable energy from garbage, liquids and agricultural biomass.Instad in China we are leader in manufacturer of machines for the protection of the environment as well as in research and development of this market with over 20 years experience. We are therefore convinced that the meeting between these two realities will be perfect alliance to grow together. “