XCMG
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| State-owned limited company | |
| Industry | Heavy equipment |
| Founded | 1989 (Xuzhou) |
| Headquarters | Xuzhou, Jiangsu, China |
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Area served
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Worldwide |
| Products | Construction equipment Cranes |
| Revenue | RMB 23.3 billion (2014) |
| Subsidiaries | XCMG Construction Machinery |
| Website | www |
XCMG Group (Chinese: 徐工集团; pinyin: Xúgōng Jítuán) is a Chinese multinational Government-owned, heavy machinery manufacturing company with headquarters in Xuzhou, Jiangsu. As of 2016, it ranks 5th in the world's construction machinery industry, 122nd among the Top 500 Chinese enterprises, 49th among the Top 100 enterprises in the Chinese manufacturing industry, and 2nd among the Top 100 enterprises in Chinese machine-building industry. These ranks are in terms of size, as it is a large enterprise Chinese Construction company.
XCMG was founded in 1989. Its subsidiary, XCMG Construction Machinery Co. Ltd., is listed on the : 000425.
The name "XCMG" is an acronym of "Xuzhou Construction Machinery Group".
XCMG was founded in Xuzhou in March 1989 as Xugong Construction Machinery Science & Technology.
XCMG formed a joint venture with Caterpillar Inc. in 1995. The joint venture, Caterpillar Xuzhou Ltd., built a 170,000 square meter excavator plant in Xuzhou. In the same year, XCMG and Liebherr Group signed a licensing agreement allowing XCMG to manufacture three models of Liebherr all-terrain cranes, including the six-axle LTM 1160 160t AT. XCMG's subsidiary Xugong Science & Technology Co. Ltd., later renamed XCMG Construction Machinery Co. Ltd., was listed on the in August 1996.
In October 2005, the U.S.-based private equity firm, Carlyle Group, agreed to acquire 85% of XCMG for US$375 million. The transaction was subsequently blocked by the Chinese government.
In 2010 XCMG signed an agreement with the Chinese oil company Sinopec to jointly develop crawler cranes. In May 2010 XCMG established a new wholly owned subsidiary focused on the railway equipment market, XCMG Railway Equipment Co. Ltd., with a plan to invest RMB 450 billion in production capacity and capital reserves. In June 2010 XCMG agreed to sell its remaining 15.87 percent stake in Caterpillar Xuzhou Ltd. to Caterpillar.
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