Chinese construction machinery company to invest in Brazil

23 February 2010

Sao Paulo, Brazil, 23 Feb – Sany Heavy Industry plans to invest US$100 million to build its first factory in Brazil, to be located in Sao Paulo state, the president of this Chinese construction machinery company has announced.

An assembly kit imported from China will be used in a first phase, though in three years it should be 60 percent Brazilian, said Xiang Wenbo in Sao Paulo.

Sany is one of the world’s biggest makers of cranes, diggers, cement mixers and transporters, and pile drivers.

The factory to be built in Sao Paulo state will produce machines for the Brazilian and Latin American markets. It should provide direct employment for a thousand people and invoice US$500 million within five years.

Sany is the first major company to invest in the state since the creation in December 2008 of Investe Sao Paulo – the Paulist Agency for the Promotion of Investment and Competitiveness.

Sany Heavy Industry (SHI) was founded in 1994 in Changsha, Hunan province. It belongs to the Sany group, which has more than 32,000 employees in nearly 120 countries.

(macauhub)

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