Sany aims to triple overseas sales within 5 yearsby CW Staff on Nov 12, 2012
Chinese construction equipment manufacturer Sany aims to triple its overseas sales in the next five years, said the company's chairman, Liang Wengen, according to a report by Xinhau.
Speaking in a group interview on the sidelines of the congress of the Communist Party of China, Wengen said that Sany was targeting its overseas sales to reach 40-50% within five years, up from the 15% projected for 2012. The growth includes sales through Putzmeister and other acquired subsidiaries.
Liang was one of 27 delegates from the private sector to attend the congress, which will elect a new Chinese president.
He said that overseas sales this year are expected to amount to $1.6 billion. Within ten years, Sany plans to increase its total sales to $48 billion (300 billion yuan).
Based on 2011 revenue, that would make Sany the second-largest equipment manufacturer in the world, behind Caterpillar, which last year had revenue of $60.1 billion. Komatsu, the second largest, had revenue of $21.5 billion.
In 2011, Sany had revenue of $7.861 billion, and was ranked by KHL Group as the sixth-largest manufacturer in the world.
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