XCMG New European Headquarters
XCMG Logo. Photo source XCMG
In Krefeld, Germany XCMG held a foundation laying ceremony, for the manufacturer's new European headquarters. The 16,400 square meter site is the basis of an investment of more than Euro 36 million (US$ 38 million). Starting in July 2013 XCMG Europe will be a platform and an incubation centre of top talent in hydraulic transmissions and complete machine technology. The European strategy is of great significance in terms of the overall objectives and strategy of XCMG. Germany and Europe are home to abundant technological resources that represent the state-of-the-art R&D and manufacturing in the world.
XCMG revenue in 2011 was RMB 87 billion ($ 14 billion) while exports were $ 1.086 billion of that. It claims the largest market share in China, its sales of truck cranes and large tonnage road rollers are the highest in the world. In China there are more than 300 distributors and another 200 elsewhere in the world. By 2015 XCMG forecasts that it will have more than tripled its overall sales target to reach reached RMB 300 billion ($ 47 billion).