Xuzhou Construction Machinery Group

XCMG held the groundbreaking ceremony for its Guangdong XCMG Intelligent Manufacturing Base in Danzao Town, Nanhai District, Foshan on January 16, 2021. The project involves a total investment of 2 billion yuan and will produce tower cranes and construction hoists, with annual capacity exceeding 5,000 units and annual sales revenue of 2.5 billion yuan.

Doosan Group's sale of Doosan Mottrol, a maker of oil pressure machines and military equipment, has attracted multiple bidders including China's XCMG, a Socius-Well to Sea Investment consortium, and an NH Investment & Securities PE-Opus PE consortium. The controlling stake is valued at 400-500 billion won.

Rio Tinto awarded a contract to Xuzhou Construction Machinery Group (XCMG) to supply auxiliary heavy mining equipment for its iron ore operations in the Pilbara region of Australia. XCMG will deliver 5 graders and 2 wheel loaders early next year to support Rio Tinto's rail maintenance fleet upgrade.