Better together: the 10th Anniversary of SANY's Acquisition of Putzmeister

CHANGSHA,China,June 20,2022 --The year 2022 marks the 10thanniversary of SANY's acquisition ofPutzmeister. Back in 2012,SANY Germany andCITIC PE acquired100%of the equity sharesin Putzmeisterfor360 million euros.As a young and ambitious enterprise,this was a milestone move for SANYas well asa game-changing event in the landscape of the global construction machinery industry.

Over the past decade,Putzmeister,alreadyatopconcrete machinery manufacturer in Europe,hasachievedsteadygrowth anddevelopmentunderSANY Group. Putzmeister's sales volumegrewfrom€500 million in 2011 to more than€800 million in 2021,maintainingitsleading position in the global concrete machinery market.

With its R&D,manufacturing and sales network expanding to cover Europe,America,and Asia-Pacific regions,the formerGerman family company now enjoys a broader global presencein154 countries and regions.

Over the past decade,Putzmeister has been integrated into SANY's global business map. Today,nearly half of the concrete machinery products around the world bearthelogo ofPutzmeister or SANY.

ForSANY,Putzmeister provides applicable experiencein internationalization,intelligent manufacturing,and concepts and practices compatible with the fourth industrial revolution.ForPutzmeister,itscapability of developing new businesses is reinforced bySANY'sfinancialsupportand resources.

The R&D cooperation between the two companies has been evidently fruitful. The joint R&D teams have successfully launched theV8 series andthe45m truck-mounted concrete pump fortheEuropean marketandarenow takingtheleadin the new arena of electric,intelligent,and digital products. Putzmeister has releasedtheworld's firsthybridtruck-mounted concrete pump -"iONTRON"andhasapplied big data technology in theconcreteproduction,transportation,andplacementprocessto improve productivity,operations,and fuel efficiency.

Both companies serveto open up markets for one another. More Putzmeister productsgained access totheChinese market through SANY,such asPutzmeister'sshotcreting machines,mortar machines,industrial pumps,andtelebelt.Similarly,manyofSANY's products have become globally visiblethroughPutzmeister'snetwork."Compared to the sales growth,"saidDr. Jiang Xiangyang,Chairman's Representative on behalf of SANY and Board member at Putzmeister Holding GmbH,"the significance of the acquisition lies in that it gave SANY a closer view of a leading company in the west,the market in developed countries,and their way of company governance."

To date,the partnership between SANY and Putzmeister has yielded exponentially positive results in the areas of training,employee exchanges,R&D,and business development. Hand in hand,their partnership has yielded far better results than either company alone. One plus onehas created far greater results than two.