# Palfinger and SANY agree to reverse cross-shareholding

Palfinger and SANY Heavy Industries signed an agreement to reverse their cross-shareholding, reducing complexity while continuing operational cooperation in joint ventures in China and CIS states.

- Type: Partnership
- Announced: 2021-12-15
- Status: announced
- Products: cranes
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Palfinger](https://endata.com/companies/17648.md)
- [SANY Group](https://endata.com/companies/15954.md) (partner)
- [Palfinger](https://endata.com/companies/17648.md) (partner)
- [SANY Heavy Industries](https://endata.com/companies/51621.md) (partner)

## Sources

- [prnewswire.co.uk](https://www.prnewswire.co.uk/news-releases/regulatory-news/eans-news-palfinger-ag-reversal-of-cross-holding-with-sany-reduces-complexity-and-assures-continued-successful-growth-868806552.html), 2021-12-16: "Following years of constructive and successful cooperation on the operational joint ventures, the cross-holding is no longer necessary."
- [vertikal.net](https://vertikal.net/en/news/story/39004/sany-and-palfinger-end-cross-shareholdings), 2021-12-17: "Following years of constructive and successful cooperation on the operational joint ventures, the cross holding is no longer necessary."
- [cranepedia.com](https://cranepedia.com/news/sany-and-palfinger-end-cross-shareholdings/), 2022-01-03: "Following years of constructive and successful cooperation on the operational joint ventures, the cross-holding is no longer necessary."

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