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Green light for Zoomlion-CIFA merger

A vote has been passed by the shareholders of Zoomlion Heavy Industry in favour of a merger with Italy-based CIFA S.p.A, a firm best known for its line of concrete pumps and related equipment such as batching plant.

A vote has been passed by the shareholders of Zoomlion Heavy Industry in favour of a merger with Italy-based CIFA S.p.A, a firm best known for its line of concrete pumps and related equipment such as batching plant.

Back in June, Zoomlion and its partners had bought 100% of CIFA stakes, In a statement the company said; "Upon completion of the acquisition, with the CIFA brand, technology and channel resources, Zoomlion could become a first-class brand in construction machinery manufacturing".

Many new tower cranes throught the region hail from China as the lead times are usually less than four months, instead of the two years plus that the German manufaturers have.

In the UAE Zoomlion is well known for its cut-price tower cranes. The firm is currently putting the finishing touches on a new facility in Jebel Ali.

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Construction Week Middle East 11th Jan 2020
Jan 16, 2020