Zoomlion Heavy Industry Science & Technology Co. has acquired Netherlands-based hoist and mast climbing equipment manufacturer Raxtar.
 
 He Wenjin, Vice President, Zoomlion said, despite increasingly fierce international competition, China’s slowing economic growth, and a “trough” in the construction machinery industry, Zoomlion continues to adhere to its established international strategy. He also said that its acquisition of Raxtar shows Zoomlion’s complete confidence in the future of the Chinese and international construction machinery markets and its commitment to the strategy of helping Chinese machinery “go global.”
 
Raxtar is one of the world’s leading hoist companies, combining development, production and sales. Its products cover construction hoists, transport platforms, material hoists and industrial lifts.
 
Tang Shaofang, Deputy General Manager of Zoomlion Hoisting Machinery Branch Company and General Manager of Zoomlion’s hoist division in Shanghai, said, “This acquisition will bring in international advanced technology, which will improve operational performance, enhance service value and reduce lifting costs, thereby meeting customer requirements for increasing value and reducing cost. This will strengthen our ability to provide customers with hoisting machinery services and increase market satisfaction and loyalty. It will also guarantee the development of Zoomlion’s hoisting machinery.”
 
A Raxtar spokesperson mentioned, “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 localization and to tailor solutions according to customer needs while sharing technology and benefits on a global scale.”