11.08.2014

Zoomlion buys into Raxtar

China’s Zoomlion Heavy Industry has acquired a significant stake - said to be 35 percent - in Dutch mast climber and hoist manufacturer Raxtar, the deal was signed in Shanghai on August 8th.

The contract signing ceremony, included Raxtar general manager Pascal Matheeuwsen and technical director John Blok along with Zoomlion vice president He Wenjin, and hoist division vice president Huang Qun.

He Wenjin said: “In spite of increasingly fierce international competition, China's slowing economic growth, and a trough in the construction machinery industry, Zoomlion continues to adhere to its long established international strategy and commitment to helping Chinese machinery go global.”

Raxtar added: "Under the new organisational structure, we will set up R&D centres in China and Europe, and the two sides will work closely in order to understand the needs of customers in different markets worldwide. None of our competitors are as well placed to understand customer needs through localisation and to tailor solutions according to customer needs while sharing technology and benefits on a global scale."