Xuzhou Construction Machinery Group Co., Ltd. (XCMG Group) () is a Chinese multinational state-owned heavy machinery manufacturing company with headquarters in Xuzhou, Jiangsu. Founded in 1943, XCMG currently ranks first in the Chinese construction machinery industry, 3rd in the world, 4th in China's top 100 machinery enterprises, and 409th in the world's top 500 brands. Recently the company has taken over Schwing GmbH. Schwing a German manufacturer of mobile and stationary concrete pumps and truck mixers, headquartered in Herne, as well as the parent company of Schwing Stetter, based in Memmingen. The business group is the world's second largest concrete pump manufacturer, behind Putzmeister, another German manufacturer and subsidiary of the Sany Group.
XCMG Group’s subsidiary, XCMG Construction Machinery Co. Ltd., was listed on the Shenzhen Stock Exchange SZSE: 000425 in 1996. With the largest scale, highest technical level and largest export volume in the Chinese construction machinery industry, XCMG Group is a competitive and influential hundred billion enterprise.
Taking "XCMG For Your Success" as its core direction for development, the word "Your" not only includes end-users but also the greater community of interest such as shareholders, suppliers, employees, and society. Constantly adhering to the concept of sustainable development, XCMG is committed to creating a greater value for the community and provide more value-added services for the entire value chain.
XCMG products are sold in more than 180 countries and regions and cover 97% of the countries along the Belt and Road Initiative. The group holds a worldwide sales network including more than 20 manufacturing bases in China, 300 overseas distributors, over 2,000 service centers, 40 overseas offices, and more than 30 overseas branch companies.
The group has R&D centers, manufacturing bases or KD factories in more than 10 countries including Germany, United States, Brazil, and India, and has acquired 3 European companies including Schwing. It is now the top concrete machinery brand in developed markets of Europe and the United States. Meanwhile, XCMG’s manufacturing base in Brazil has become a model of China-Brazil economic cooperation, as the XCMG Brazilian Bank is now the first overseas bank of China’s manufacturing industry.
Name
The name "XCMG" is an acronym of "Xuzhou Construction Machinery Group".
History
1943 to 1989
In 1943, one of the predecessors of XCMG Group, "Huaxing Iron Factory" was founded and later became Xuzhou Heavy Machinery Factory.
In 1948 and 1949, Jinan Meifeng Pound Factory and Xuzhou Shunhe Auto Repair Shop were established and later developed as Xuzhou Construction Machinery Manufacturing Factory and Xuzhou Loader Factory respectively. All three factories played an important role in contributing to the development of XCMG Group today.
In 1957, the Huaxing Iron Factory completes trial production of its first tower crane, paving the way for XCMG's construction machinery business later on.
In 1960, China's first 10-tonne steamroller is developed.
In 1963, China's first 5-tonne truck crane is developed.
1989 to 1999
In March 1989, XCMG Group was officially established in Xuzhou based on the "three factories, one institute" model (Xuzhou Heavy Machinery Factory, Xuzhou Loader Factory, Xuzhou Construction Machinery Manufacturing Factory and Xuzhou Construction Machinery Research Institute), becoming the first group company in the Chinese construction industry.
In 1992, then-General Secretary of the Chinese Communist Party (CCP) Jiang Zemin inspected XCMG. It also became the first company in the industry to obtain the right to export independently, officially kicking off its prelude to internationalization. That same year, XCMG participated in the Bauma Exhibition in Germany as the first and only Chinese machinery exhibitor.
In 1993, Xuzhou Construction Machinery Co., Ltd. was established.
In 1994, XCMG and Caterpillar formed a joint venture, namely Caterpillar (Xuzhou) Co., Ltd.
In 1995, XCMG and Liebherr Group formed a joint venture, namely Xuzhou Liebherr Concrete Machinery Co., Ltd. Meanwhile, the company was restructured into a wholly state-owned enterprise, namely Xuzhou Construction Machinery Group Co., Ltd.
In 1996, XCMG was listed on the Shenzhen Stock Exchange SZSE: 000425, while forming a joint venture with Rockwell (Xuzhou Rockwell Axle Co., Ltd.). That year, then-CCP Politburo Standing Committee member Hu Jintao inspected XCMG.