Liugong buys into off-highway truck business

29 September 2011

The signing ceremony that saw Liugong acquire a 42% stake in Beijing Capital Steel heavy duty Truck

The signing ceremony that saw Liugong acquire a 42% stake in Beijing Capital Steel heavy duty Truck was held in Beijing on September 28, 2011.

Liugong has acquired a 42% share in mining truck manufacturer Beijing Capital Steel Heavy Duty Truck Co. Ltd, which is a subsidiary of Beijing Capital Steel Mining Co. The terms of the acquisition were not disclosed.

The deal is described as a strategic co-operation that will allow Liugong to add construction and mining trucks to its product portfolio. Liugong will participate in R&D activities, manufacture and sales of the trucks.

Beijing Capital Steel heavy Duty Trick's product portfolio comprises trucks for 32 tonnes to 190 tonnes. The parent company, Beijing Capital Steel is a mining company with a 50-year history. In addition to truck manufacture, its activities include mining and mineral concentration.

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