Xuzhou Construction Machinery Group (XCMG)

Early development (1943–1988)

XCMG traces its origins to several industrial enterprises founded during the mid-20th century. In 1943, one of its main predecessors, Huaxing Iron Factory, was established and later became Xuzhou Heavy Machinery Factory. In 1948 and 1949, Jinan Meifeng Pound Factory and Xuzhou Shunhe Auto Repair Shop were founded; these later evolved into Xuzhou Construction Machinery Manufacturing Factory and Xuzhou Loader Factory, respectively. Together, these entities formed the industrial foundation of XCMG.

In 1957, Huaxing Iron Factory completed trial production of its first tower crane, marking the company’s entry into construction machinery. In 1960, China’s first 10-tonne steamroller was developed, followed in 1963 by the country’s first 5-tonne truck-mounted crane.

Group formation and early expansion (1989–1999)

In March 1989, XCMG Group was formally established in Xuzhou under a “three factories, one institute” structure, integrating Xuzhou Heavy Machinery Factory, Xuzhou Loader Factory, Xuzhou Construction Machinery Manufacturing Factory, and Xuzhou Construction Machinery Research Institute. This made XCMG the first group company in China’s construction machinery industry.

In 1992, then General Secretary of the Chinese Communist Party Jiang Zemin inspected XCMG. That year, XCMG became the first Chinese construction machinery company authorized to conduct independent exports and participated in the Bauma exhibition in Germany as the first and only Chinese exhibitor.

In 1993, Xuzhou Construction Machinery Co., Ltd. was incorporated. During the mid-1990s, XCMG entered a series of international joint ventures, including Caterpillar (Xuzhou) Co., Ltd. in 1994, Xuzhou Liebherr Concrete Machinery Co., Ltd. in 1995, and Xuzhou Rockwell Axle Co., Ltd. in 1996.

In 1995, XCMG was restructured into a wholly state-owned enterprise under its current legal name. In 1996, XCMG Construction Machinery Co., Ltd. was listed on the Shenzhen Stock Exchange (SZSE: 000425). In 1997, XCMG was selected as both a national pilot enterprise for modern corporate systems and a pilot enterprise group at the national level.

Globalization and restructuring (2011–present)

In 2011, XCMG launched its “Hanfeng Plan,” reorganizing its operations into five major business units. The group also entered into cooperation with the Venezuelan government to establish a local construction equipment manufacturing joint venture. That same year, XCMG acquired high-end hydraulic technology providers AMCA (Netherlands) and Fluitronics (Germany) and ranked fifth globally in the construction machinery industry.

In 2012, XCMG completed four major industrial bases and a RMB 1 billion research institute in Xuzhou. New manufacturing facilities for cranes, loaders, and concrete machinery were commissioned, with a total investment of approximately US$1.9 billion. XCMG also began construction of a research and development center in Krefeld, Germany, and acquired a majority stake in German concrete machinery manufacturer Schwing.

XCMG manufactures a broad range of construction and industrial machinery across more than 16 product categories. Its product portfolio includes cranes, excavators, concrete machinery, mining equipment, loaders, road machinery, special-purpose vehicles, aerial work platforms, piling and foundation equipment, tunnel and trenchless machinery, environmental protection equipment, firefighting machinery, energy drilling equipment, and port machinery. The group also develops core components such as hydraulic systems, transmissions, and electronic control systems.