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CITIC-Heavy Industries Co. Ltd

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CITIC Heavy Industries Co., Ltd acquired Gandara Censa SA.

Release Date: 23 February 2012     Font size:  Small  Medium  Large

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.