CITIC Heavy Industries Co., Ltd acquired Gandara Censa SA.
In October 2010, CITIC Heavy Industries Co., Ltd ("CITIC HIC") agreed to acquire Spanish based heavy equipment manufacturer Gandara Censa, SA. Ganada Censa is a manufacturer of heavy industrial equipment, mainly for mining, cement and energy (renewables) sectors. The company operates a production plant located in Vigo and exports almost all its production to customers worldwide.
The acquisition of Gandara will provide CITIC HIC with a strong footprint in Europe, which will also allows CITIC HIC to easily cover customers in Europe, South America, North America and Africa.