Sichuan Tengzhong Heavy Industrial Machinery Co. is a private manufacturing company based out of Chengdu, China. Sichuan produces heavy-duty machinery for a variety of purposes, including road construction, bridge construction, and energy production. [1][2]
Tengzhong, lead by CEO Yang Yi, was formed in 2005 and has 4,800 employees. [3]
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[edit] History
Sichuan Tengzhong was founded in 2005 following the acquisition of Sichuan Changdian Electric Co. Ltd. At that time it was known as Tengzhong Electrics Co. Ltd. In 2006 the company name was changed to Sichuan Tengzhong Machinery Manufacturing Co. Ltd in order to better reflect the company’s broad product offerings. [4]
Also in 2006 Sichuan Tengzhong acquired the Guangyuan Construction Machinery Group, adding a heavy equipment element to its product line.[5]
In 2007 the company expanded its production capabilities by building new manufacturing operations in Xinjin, Sichuan. The same year, the company again changed its name, this time to its current form: Sichuan Tengzhong Heavy Industrial Machinery Co. [6]
In 2008 Sichuan Tengzhong acquired Xinjin Road Construction Machinery Factory from the state-owned construction conglomerate, China Communication Construction Corp. In addition to expanding into the communications construction industry, Sichuan also started to manufacture equipment for energy production; namely oil tankers, oil drilling equipment, and oil well consolidation equipment. [7]
[edit] The Company Today
On June 2, 2009, Sichuan Tengzhong reached an agreement to purchase the American sports utility vehicle manufacturer, Hummer, from General Motors Corp. Pending approval from the Chinese government, the deal would close in the third quarter of 2009. If successful, Sichuan Tengzhong would be the first Chinese company ever to sell vehicles in North America. [8][9]
The terms of the deal were not disclosed. However, analysts have pegged Hummer brand’s value at US$500 million. [10]
Sichuan Tengzhong plans on continuing to produce Hummers in America, and trying to sell them in China. [11]
Sichuan Tengzhong is a new player in the automotive business—it has never before produced a car. Prior to acquiring Hummer, it was known for producing specialty trucks (rock trucks, concrete pumping vehicles, and oil and water tankers), bridges, and energy production equipment.[12]
On October 9, 2009, the sale of Hummer to Sichian Tengzhong was finalized.[13]
[edit] Equipment List
- Bridge
- Concrete mixer
- Concrete pump truck
- Dump truck
- Oil tanker
- Rock truck
- Tow truck
- Trailer
- Water truck
[edit] References
- ↑ GM unloads Hummer to Chinese buyer CNNMoney.com [June 5, 2009].
- ↑ Chinese Company Buying G.M.’s Hummer Brand. The New York Times [June 5, 2009].
- ↑ Hummer Buy Seen a Rocky Road for Obscure China Firm. Fox Business [June 5, 2009].
- ↑ Company Introduction. Sichuan Tengzhong [June 5, 2009].
- ↑ Company Introduction. Sichuan Tengzhong [June 5, 2009].
- ↑ Company Introduction. Sichuan Tengzhong [June 5, 2009].
- ↑ Company Introduction. Sichuan Tengzhong [June 5, 2009].
- ↑ Hummer Buy Seen a Rocky Road for Obscure China Firm. Fox Business [June 5, 2009].
- ↑ Chinese Company Buying G.M.’s Hummer Brand. The New York Times [June 5, 2009].
- ↑ Chinese Company Buying G.M.’s Hummer Brand. The New York Times [June 5, 2009].
- ↑ Chinese Company Buying G.M.’s Hummer Brand. The New York Times [June 5, 2009].
- ↑ Chinese Company Buying G.M.’s Hummer Brand. The New York Times [June 5, 2009].
- ↑ General Motors Signs Agreement For Sale of HUMMER to Tengzhong. GmReInvention.com [October 14, 2009].
