China National Machinery Industry Corporation

China National Machinery Industry Corporation (also known as Sinomach) is a Chinese conglomerate with businesses in tool making, construction equipment, agricultural equipment, and infrastructure construction. In two particular areas of construction engineering, the company is among the top in terms of revenue from international projects. Based on 2013 rankings compiled by the Engineering News-Record, the company is the third largest contractor of power projects and 8th largest contractor of industrial projects.[2]

Not to be confused with China Machinery Engineering Corporation, the construction and engineering subsidiary of Sinomach.
China National Machinery Industry Corporation
Native name
中国机械工业集团（国机集团）
State owned enterprise
IndustryHeavy machinery, construction
Founded1997 (1997)
HeadquartersBeijing, China
Area served
Worldwide
Key people
Ren Hongbin (Chairman)
ProductsTractors, machinery
Revenue300,465,460,000 renminbi[1] (2018) 
Number of employees
80,000
ParentSASAC
Subsidiaries
WebsiteSinomach Global (in English)

A major subsidiary is the YTO Group, primarily a manufacturer of agriculture equipment.[3] In March 2011, YTO Group acquired McCormick France SAS, a French manufacturer of tractors, as part of strategy for entering the European tractor market.[3]

Another major subsidiary of the company is the China Machinery Engineering Corporation (CMEC), a provider of engineering and construction services. The company expressed interest in building a 10,000 to 30,000 acre complex of industry, retail, and residential properties in the Boise area. The plan is billed as a collaboration "on the reinvigoration of the American industrial base."[4]

In June 2017, a sister SASAC-controlled conglomerate, China Hi-Tech Group Corporation (CHTC), became a wholly owned subsidiary of Sinomach through a restructuring,[5] as part of a plan to reduce the number of SASAC directly-controlled companies.[6]

References
  1. https://finance.sina.com.cn/zt_d/2019_zq500qbd/.
  2. "The Top 250 International Contractors" (PDF). Engineering News Record.
  3. Shen, Jingting (2011-03-23). "Sinomach buys McCormick France". China Daily.
  4. http://www.idahostatesman.com/2010/12/31/v-print/1472023/chinese-company-eyes-boise.html
  5. Li, Shaoting (2018-10-18). "执掌恒天集团10年的董事长张杰被查 一手做大的金融业务毛利贡献近年缩水" [Zhang Jie, the chairman of the CHTC Group for 10 years, was investigated. The gross profit contribution of the financial business has shrunk in recent years]. nbd.com (in Chinese). Retrieved 2019-01-25.
  6. "中国恒天整体并入国机集团 央企数量缩减至101家水" [CHTC is fully integrated into Sinomach. The number of central enterprises has been reduced to 101]. xinhuanet.com (in Chinese). 2017-06-30. Retrieved 2019-01-25.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.