Shandong Heavy Industry Group Co., Ltd. is a Chinese

state-owned State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownersh ...

multinational heavy machinery and automotive manufacturing company headquartered in Jinan, Shandong. Shandong Heavy Industry has four listed companies: Weichai Power (2338HK/000338SZ), Weichai Heavy-Duty Machinery (000880SZ), Yaxing Bus (600213SH) and Shantui Machinery (000680SZ).

History

Shandong Heavy Industry was founded in 2009 through a merger between Weichai Holding Group, Shandong Construction Machinery Group and Shandong Auto Industrial Group. In August 2012, Shandong Heavy Industry agreed to acquire 75% of the Italian yacht maker

Ferretti Group Ferretti S.p.A. (trading as Ferretti Group) is an Italian multinational shipbuilding company headquartered in Forlì which specialises in the design, construction and sale of luxury motor yachts. Its products are sold under the brands Ferretti ...

for €178 million, plus the provision of €116 million of new credit facilities. In August 2012, Shandong Heavy Industry's Weichai Power subsidiary agreed to acquire a 25% stake in the German forklift maker

KION Group Kion Group AG (styled as KION Group) is a German multinational manufacturer of materials handling equipment, with its headquarters in Frankfurt, Hesse, Germany. Its principal products are intralogistics, warehouse automation equipment, and indus ...

for €467 million, and a 70% majority stake in Kion's hydraulics business for €271 million. In October 2019, Shandong Heavy Industry became the controlling shareholder of

China National Heavy Duty Truck Group China National Heavy Duty Truck Group Co., Ltd., CNHTC or Sinotruk Group is a Chinese state-owned truck manufacturer headquartered in Jinan, Shandong province. It is currently the third largest truck manufacturer in Mainland China. It is known fo ...

, acquiring a 45% stake.

Operations

Shandong Heavy Industry has five principal operating subsidiaries: Weichai Holding Group Co., Ltd. (the parent company of

Weichai Power Weichai Power Co., Ltd is a developer and manufacturer of diesel engines with headquarters in Weifang, Shandong in the People's Republic of China. It also manufactures forklifts and non-diesel engine automotive parts. History Weichai Power was ...

), Shantui Construction Machinery Co., Ltd., Shantui Machinery Co., Ltd., Shanzhong Construction Machinery Co., Ltd., and Shandong Auto Industry Group Co., Ltd., Shazhonng Construction Machinery.

References

{{Heavy machinery manufacturers of China Companies based in Jinan Construction equipment manufacturers of China Multinational companies headquartered in China Manufacturing companies established in 2009 Vehicle manufacturing companies established in 2009 2009 establishments in China