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The Warsaw Voice » Business » May 27, 2011
Business & Economy
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Chinese Investor for Stalowa Wola
May 27, 2011   
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China’s LiuGong Machinery corporation will pay zl.250 million to buy a section of the Huta Stalowa Wola (HSW) steelworks in southeastern Poland. The acquisition will be completed in June. LiuGong Machinery and trade unions at the steelworks are negotiating a social benefit package for 2,500 employees.

Within three years, LiuGong Machinery aims to hire more people and increase annual production at the plant. The Chinese aim to focus on caterpillar track vehicles, a new product for LiuGong Machinery, including tractors, bulldozers, machines used to build pipelines and heavy loaders for the mining industry.

LiuGong Machinery wants to bring Huta Stalowa Wola products onto the huge Chinese market, a market which so far has been out of reach for the Polish steelworks. LiuGong Machinery aims to make Huta Stalowa Wola the center for exports of caterpillar track vehicles to Western Europe, the United States, Russia and the Commonwealth of Independent States. In Stalowa Wola, LiuGong Machinery will also open its first research and development center outside China to develop new generations of caterpillar track machines adapted for use in extreme weather conditions, such as those in Siberia. The company is also planning to build new halls and purchase state-of-the-art equipment.

At present, LiuGong Machinery sells 45,000 excavators, loaders and other machines a year, mostly in China, Africa and South America. The company aims to become a top global producer of construction equipment.
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