Sept. 28 (Bloomberg) -- Changsha Zoomlion Heavy Industry Science and Technology Development Co., China’s second-biggest construction machinery maker, plans to build a factory in Japan next year as it seeks to expand overseas.
Zoomlion may set up the facility on its own or form a local venture, the Changsha, Hunan province-based company said in an e-mailed statement today, without disclosing planned investments. The equipment maker also won a contract to sell 30 truck-mounted concrete pumps to a customer in Japan.
The deal is China’s first large order for construction machinery from Japan, Zoomlion said without disclosing the value. The average price of the equipment is $300,000 apiece, spokeswoman Chen Yingzi said.
“Japan’s recognition of China’s capability in machinery manufacturing” is reflected in the order, Zoomlion said in the statement.
The company said it will also seek overseas acquisitions. Rivals Sany Heavy Industry Co. and XCMG Construction Machinery Co. are also expanding outside China.
--Editors: Vipin Nair, Suresh Seshadri
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