Chinese construction equipment manufacturer Zoomlion Heavy Industry Science & Technology Co. has acquired M-Tec, a German dry mortar equipment producer. Zoomlion said the deal was completed Dec. 20.
The transaction was the latest example of Chinese companies acquiring German industrial companies. In Feb. 2012, Sany Heavy Industry Co. paid $500 million for a 90-percent stake in German concrete-manufacturer Putzmeister. Later that same year, Weichai Power, an automotive and equipment manufacturing company under Shandong Heavy Industry Group, acquired a one-quarter ownership stake in German forklift manufacturer Kion group for more than $900 million.
Zoomlion, owned by the government of Hunan province, is listed on the Hong Kong and Shenzhen stock exchanges.