In an era when global brands reign supreme, Sany Heavy Industry wants to be included in the discussion among construction machinery heavyweights. The Chinese heavy equipment manufacturer recently announced its aggressive growth plans that will help elevate their brand toward a level that rivals equipment giants Komatsu and Caterpillar Inc.
Sany, who specializes in making construction and hoisting machines, will expand their production facilities by building 10 plants in foreign nations. While China’s domestic demand for heavy equipment continues to experience a decline, the company has indicated targeting emerging markets and resource-rich nations is the most logical step towards boosting their equipment sales. Sany seeks to complete this project within five years.
“We’d like to make Sany a big global brand,” said former Komatsu Ltd. engineer, Nobuhiko Oku, who joined the company in 2009. Oku is one of about 70 foreigners, primarily engineers, who were hired by Sany to help improve quality and accelerate overseas sales. “It makes sense for Sany to accelerate its international expansion given weakness in the home market,” said Bloomberg Industries construction-equipment analyst, Karen Ubelhart, “success won’t be easy,” she continued.
According to Bloomberg data, Sany’s concrete equipment sales have undergone a 13-fold increase in the past five years. In 2010 alone, concrete equipment sales eclipsed the $5 billion mark.