Shandong Heavy Industry
Shandong Heavy Industry Group Co., Ltd. is a Chinese provincial-owned multinational heavy machinery and automotive manufacturing company headquartered in Jinan, Shandong.
Shandong Heavy Industry has four listed companies: Weichai Power, Weichai Heavy-Duty Machinery, Yaxing Bus and Shantui Machinery.
History
Shandong Heavy Industry was founded in 2009 through a merger between Weichai Holding Group, Shandong Construction Machinery Group and Shandong Auto Industrial Group.In August 2012, Shandong Heavy Industry agreed to acquire 75% of the Italian yacht maker Ferretti Group for €178 million, plus the provision of €116 million of new credit facilities.
In August 2012, Shandong Heavy Industry's Weichai Power subsidiary agreed to acquire a 25% stake in the German forklift maker KION Group for €467 million, and a 70% majority stake in Kion's hydraulics business for €271 million.
In October 2019, Shandong Heavy Industry became the controlling shareholder of China National Heavy Duty Truck Group, acquiring a 45% stake.