# XCMG receives state approval to absorb XCMG Construction Machinery

Xuzhou Construction Machinery Group (XCMG) received approval from the Jiangsu State-owned Assets Supervision and Administration Commission to absorb XCMG Construction Machinery Co., Ltd. (Xugong Youxian) via a share issuance. The merger will make Xuzhou Construction Machinery Group the controlling shareholder.

- Type: Acquisition
- Announced: 2021-11-08
- Where: China
- Status: announced
- Products: construction machinery
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Xuzhou Construction Machinery Group](https://endata.com/companies/42855.md) (acquirer)
- [XCMG Construction Machinery](https://endata.com/companies/52617.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/596295.html), 2021-11-08: "原则同意徐工机械本次重组方案，徐工机械通过向控股股东徐工有限全体股东发行股份方式吸收合并徐工有限"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.