{"id":385,"date":"2016-04-13T14:43:11","date_gmt":"2016-04-13T14:43:11","guid":{"rendered":"http:\/\/minutes.machine.market\/?p=385"},"modified":"2016-04-13T14:43:11","modified_gmt":"2016-04-13T14:43:11","slug":"terexs-chinese-suitor-zoomlion-reports-full-year-profit-plunged-85","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/terexs-chinese-suitor-zoomlion-reports-full-year-profit-plunged-85\/","title":{"rendered":"Terex&#8217;s Chinese Suitor Zoomlion Reports Full-Year Profit Plunged 85%"},"content":{"rendered":"<p>Zoomlion Heavy Industry Science and Technology, the Chinese heavy machinery equipment maker that\u2019s seeking to acquire U.S. crane maker <a href=\"http:\/\/www.terex.com\/en\/\" target=\"_blank\" rel=\"noopener noreferrer\">Terex Corp.<\/a>,\u00a0saw profit plunge 85 percent last year, plagued by overcapacity issues as demand slowed in its home market.<\/p>\n<p>Net income sank to 89 million yuan ($13.7 million) in 2015 from 594 million yuan the year before,\u00a0the Hunan province-based company said in a Hong Kong exchange statement Wednesday. This compares to the average estimate for a 308.3 million yuan net loss of 14 analysts compiled by Bloomberg. Revenue slumped 20 percent to 20.75 billion yuan.<\/p>\n<p>Equipment utilization rates in China, the world\u2019s largest equipment market, have remained stubbornly below 50 percent as construction starts fell last year amid a slowing Chinese economy. Sales of construction machines and other tools in China plunged 44 percent last year and demand may not recover this year as China seeks to rebalance its economy towards consumer spending and away from investment-led growth, according to Bloomberg Intelligence analyst Steve Man.<\/p>\n<div data-view-uid=\"1|0_3_1_8\"><a href=\"http:\/\/en.zoomlion.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u00a0Zoomlion<\/a> is looking to hijack Terex\u2019s merger with Finland\u2019s <a href=\"http:\/\/www.konecranes.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Konecranes <\/a>Oyj, having raised its cash offer to $31 a share, a dollar higher than an unsolicited bid it made in January, Terex said March 23, adding it will hold talks with its Chinese suitor.\u00a0The Westport, Connecticut-based company will determine whether it can obtain a binding proposal from Zoomlion, Terex said. Zoomlion <a title=\"Zoomlion Shares Tumble After Sweetening Terex Offer (2)\" href=\"http:\/\/www.bloomberg.com\/news\/articles\/2016-03-23\/terex-to-pursue-talks-with-zoomlion-after-sweetened-takeover-bid\" data-tracker-action=\"click\" data-tracker-category=\"recirc\" data-tracker-label=\"inline_link.01\">said<\/a> last Thursday it\u2019s made a revised and updated non-binding offer to Terex\u2019s board of directors.<\/div>\n<div data-view-uid=\"1|0_3_1_8\"><\/div>\n<div data-view-uid=\"1|0_3_1_8\"><span class=\"author-name\"><a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2016-03-30\/terex-s-chinese-suitor-reports-full-year-profit-plunged-85\">Bloomberg News<\/a> <\/span><\/div>\n<div data-view-uid=\"1|0_3_1_8\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Zoomlion Heavy Industry Science and Technology, the Chinese heavy machinery equipment maker that\u2019s seeking to acquire U.S. crane maker Terex Corp.,\u00a0saw profit plunge 85 percent last year, plagued by overcapacity issues as demand slowed in its home market. Net income sank to 89 million yuan ($13.7 million) in 2015 from 594 million yuan the year [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":386,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[2,3,13,8],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Terex&#039;s Chinese Suitor Zoomlion Reports Full-Year Profit Plunged 85% - MachineMarket Blog<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cranemarket.com\/blog\/terexs-chinese-suitor-zoomlion-reports-full-year-profit-plunged-85\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terex&#039;s Chinese Suitor Zoomlion Reports Full-Year Profit Plunged 85% - MachineMarket Blog\" \/>\n<meta property=\"og:description\" content=\"Zoomlion Heavy Industry Science and Technology, the Chinese heavy machinery equipment maker that\u2019s seeking to acquire U.S. crane maker Terex Corp.,\u00a0saw profit plunge 85 percent last year, plagued by overcapacity issues as demand slowed in its home market. Net income sank to 89 million yuan ($13.7 million) in 2015 from 594 million yuan the year [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cranemarket.com\/blog\/terexs-chinese-suitor-zoomlion-reports-full-year-profit-plunged-85\/\" \/>\n<meta property=\"og:site_name\" content=\"MachineMarket Blog\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-13T14:43:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2016\/04\/zoomlion.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"650\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/machine.market\/blog\/#organization\",\"name\":\"CraneMarket | Cranes for Sale and Rent\",\"url\":\"https:\/\/machine.market\/blog\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/machine.market\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2019\/03\/crane-market-logo.png\",\"width\":282,\"height\":81,\"caption\":\"CraneMarket | Cranes for Sale and Rent\"},\"image\":{\"@id\":\"https:\/\/machine.market\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/machine.market\/blog\/#website\",\"url\":\"https:\/\/machine.market\/blog\/\",\"name\":\"MachineMarket Blog\",\"description\":\"Machine News\",\"publisher\":{\"@id\":\"https:\/\/machine.market\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/machine.market\/blog\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cranemarket.com\/blog\/terexs-chinese-suitor-zoomlion-reports-full-year-profit-plunged-85\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2016\/04\/zoomlion.jpg\",\"width\":1920,\"height\":650},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cranemarket.com\/blog\/terexs-chinese-suitor-zoomlion-reports-full-year-profit-plunged-85\/#webpage\",\"url\":\"https:\/\/cranemarket.com\/blog\/terexs-chinese-suitor-zoomlion-reports-full-year-profit-plunged-85\/\",\"name\":\"Terex's Chinese Suitor Zoomlion Reports Full-Year Profit Plunged 85% - MachineMarket Blog\",\"isPartOf\":{\"@id\":\"https:\/\/machine.market\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/terexs-chinese-suitor-zoomlion-reports-full-year-profit-plunged-85\/#primaryimage\"},\"datePublished\":\"2016-04-13T14:43:11+00:00\",\"dateModified\":\"2016-04-13T14:43:11+00:00\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cranemarket.com\/blog\/terexs-chinese-suitor-zoomlion-reports-full-year-profit-plunged-85\/\"]}]},{\"@type\":\"Article\",\"@id\":\"https:\/\/cranemarket.com\/blog\/terexs-chinese-suitor-zoomlion-reports-full-year-profit-plunged-85\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/terexs-chinese-suitor-zoomlion-reports-full-year-profit-plunged-85\/#webpage\"},\"author\":{\"@id\":\"https:\/\/machine.market\/blog\/#\/schema\/person\/d55314291bc2800387533231d1e82150\"},\"headline\":\"Terex&#8217;s Chinese Suitor Zoomlion Reports Full-Year Profit Plunged 85%\",\"datePublished\":\"2016-04-13T14:43:11+00:00\",\"dateModified\":\"2016-04-13T14:43:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/terexs-chinese-suitor-zoomlion-reports-full-year-profit-plunged-85\/#webpage\"},\"publisher\":{\"@id\":\"https:\/\/machine.market\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/terexs-chinese-suitor-zoomlion-reports-full-year-profit-plunged-85\/#primaryimage\"},\"articleSection\":\"Constuction &amp; 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