Zoomlion merges with CIFA S.p.A.

On July 10， Zoomlion Heavy Industry Science & Technology Development Co. Ltd. held a provisional shareholders meeting to vote on a merger with Italy-based CIFA S.p.A. The merger passed with a high percentage of affirmative votes. On June 25, Zoomlion declared that with a joint investment of 271 million euros, Zoomlion and its partners had bought 100% of CIFA stakes, the world's third largest concrete machinery manufacturer. Upon completion of the acquisition, with the CIFA brand, technology and channel resources, Zoomlion could become a first-class brand in construction machinery manufacturing.

Source: People's Daily Online