Engineering machinery manufacturer Sany Heavy Industry Co. Ltd. said it will invest EUR100m in a new research and development centre and a machinery manufacturing base in Cologne, Germany.
The company's Hong Kong-registered subsidiary, Sany International, will
oversee and execute the construction of the R&D centre and the
manufacturing base in Cologne, a statement of the Hunan-based firm
said. The EUR100m investment aims at boosting the development of Sany's
international business and improve its brand image in Europe.
The new facilities will also reduce transportation costs for Sany's
automobile chassis, pumps and engines that are imported from Europe.
The company expects yearly sales of EUR350m.
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