LiuGong buys into Chinese piling machine firm Jintai

Guangxi Liugong Machinery (269 LiuGong) has bought a controlling interest in Chinese piling machine specialist Shanghai Jintai Engineering Machinery (Jintai). The US$85.24 million deal has seen LiuGong buying 51% of Jintai from its parent, by Guangxi Liugong Group. LiuGong Group, parent company of LiuGong, has owned a 51% share of Shanghai Jintai Engineering Machinery since the second quarter of 2011. At that time LiuGong Group signed a strategic cooperation agreement with Shanghai Mechanical and Electrical Industry and Shanghai Electric International Economic & Trading, the two subsidiaries of Shanghai Electric (Group).

The deal is significant as Jintai is a leading player in the global market for piling machines. The firm has a broad range of piling machinery, with 16 series of more than 70 models. Jintai has been a pioneer for piling equipment in China, with the units now widely used in the construction of railways, subways, highways, bridges, dams and harbours.

With this acquisition, LiuGong now adds piling machines to its product portfolio. LiuGong will participate in the R&D, manufacture, sales and services of the piling machines. Through LiuGong’s global network, Jintai will now be able to compete worldwide.