The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.92 - Manufacture of machinery for mining, quarrying and construction
3,000 jobs Number of planned job creations
Announcement Date
9 April 2012
Employment effect (start)
Foreseen end date
Description
Sany, a Chinese multinational specialized in heavy machinery manufacturing, announced its intention to create 3,000 new jobs across Germany, India and Brazil. The goal is to invest €300m in a bid to expand its recent acquisition, the German company Putzmeister, and to establish a stronger presence outside China.
The Sany Group is a large manufacturer of construction equipment. The company has increased its sales by roughly 10 times in the past five years, and is now seen as a competitor to global leaders in the construction machinery business such as Caterpillar and Komatsu.
So far, no timeline for the business expansion has been announced, although some sources report that hiring is expected to start immediately.
Sources
9 April 2012: Financial Times
13 April 2012: Stuttgarter Nachrichten
Citation
Eurofound (2012), Sany, Business expansion in World, factsheet number 73600, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73600.
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