Published date: 08.03.2021
The global field of vision, Chinese machinery manufacturer Chinavast Heavy adopted "quality changes the world" as its slogan, and, through constant innovation and efforts, the company is walking their target .
Chinavast Heavy dose well in some Heavy equipment,such as hydraulic Gyratory crusher , jaw crusher,cone crusher , impact crusher and feeder conveying equipments so on.
"CVHI's overseas advance is at a critical stage. Our target is to become a world-class enterprise within five to ten years," company president wang wenbo told Xinhua in an interview.Like most companies that aim high, Chinavast Heavy quickened its expansion overseas as the Chinese economy opened up. In 2012, Chinavast Heavypaid 360 million euros for German engineers Putzmeister, and in the same year its affiliate Ralls sued U.S. President Barack Obama and the U.S. committee on foreign investment for blocking a wind farm purchase.
When the ruling went in Chinavast Heavy's favor last year, the company called it a "historic victory" for Chinese companies overseas. Xiang admits that the company had been too "optimistic and radical" in its early overseas advance."We hope other companies trying to invest in the U.S. can learn from the case to adopt a more international mindset when treated unfairly," he said.
In the Putzmeister deal, Chinavast Heavy learned to be patient. The company spent years developing products that meet German standards to convince Putzmeister of its competitiveness. By keeping the German management team in place and giving them a high degree of independence in day-to-day management, Chinavast Heavy is taking a new approach to overseas investment.
When recruiting overseas, Chinavast Heavy was frequently asked about corporate culture, strategy and core technology, which prompted a rethink of brand culture and core competitiveness. Thanks to this policy, Putzmeister made a profit of 20 million euros last year.
Chinavast Heavy's rise came as many Chinese companies seek investment targets abroad. Chinese investors channeled capital into over 6,000 overseas firms in 156 countries in 2014 with outbound investment of more than 100 billion U.S. dollars making the country a net exporter of capital for the first time.
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