Sany Heavy Industry claimes 431st place on 2011 FT Global 500

( sanygroup.com and chinadaily.com.cn )

Updated: 2011-07-04

British newspaper Financial Times released the 2011 list of the world's 500 most valuable companies (FT Global 500) on July 1.

Sany Heavy Industry (Code: 600031), who set up a branch in UETD, was put on the list of FT Global 500 for the first time, ranked 431st, with a market cap of 21.584 billion US dollars. Sany has become the first company listed among the world’s top 500 companies from China's construction machinery industry.

Financial Times releases the world's most valuable, publicly traded companies every year. This is the 15th year the published the list.

FT Global 500 is recognized as one of the most influential and noteworthy lists of commercial enterprises in the world. All companies included in the list must have at least 15 percent of its total shares as tradable shares.

The value of non-tradable shares is not included and investment companies are excluded. FT Global 500 will give comprehensive consideration to the country of the company's origin according to a few factors, such as place of registration, main stock exchange location, market place and so on. Sany Heavy Industry held a groundbreaking ceremony for its Sany Northwest Industrial Park project in Urumqi UETD in April 2011. The project covers an area of 1,135 mu, with total investment of no less than 1.8 billion yuan. This project, when put into operation, is expected to generate 12 billion yuan annual output and 5,000 job openings.

The industrial park will mainly focus on engineering machinery production, coal machinery and wind power equipment manufacturing. Based on the market of Xinjiang, Sany also aims to enter the markets of Northwest and Central Asia.

The successful introduction of the Sany Group in Xinjiang will have far-reaching and significant impact on Xinjiang's equipment manufacturing industry and the development of equipment manufacturing base of the zone.

Sany has transformed itself from a leader in concrete machinery industry to an all-round construction machinery manufacturer of a broad range of construction machinery products.