To the Business Editor
For Immediate Release
CITIC Capital Announces Investment in China’sLargest Crawler Crane Manufacturer(Shanghai, 5 June 2008) CITIC Capital Holdings Limited (“CITIC Capital”) announced today thatit has acquired a significant interest in China’s largest crawler crane manufacturer through aninvestment from CITIC Capital China Partners, L.P., its China private equity fund.
Founded in 1904, Fushun Excavator Corporation Ltd (“Fushun Excavator” or the “Company”)
manufactures crawler cranes which are widely used in the petrochemical, nuclear power, windpower, metallurgy, transportation and urban construction industries. The Company exports 60%of its products to markets such as India, the Middle East, EU and the US, where demand isstrong and sustainable.
According to industry experts, China’s construction machinery market is expected to maintain an
average of 22% growth in the next four years, driven by growing fixed asset investment, theincreased mechanization in construction industry and the rapid development of the construction
machinery rental market.
Mr. Yichen ZHANG, Chief Executive Officer of CITIC Capital, said, “We are excited about thisinvestment in Fushun Excavator as it demonstrates the potential of former state-owned
enterprises to leverage their strength in the Chinese domestic market to successfully compete in
the global marketplace. We are looking forward to helping Fushun Excavator to further expand
its distribution network and access to both developed and emerging market economies.”
Mr. Xiaoping LIU, Managing Director of CITIC Capital, added, "We were attracted to Fushun
Excavator because of its consistent financial performance and the strength of its senior
management team, which has overseen the Company’s domestic revitalization as well as
successful international expansion. We are looking forward to bringing our resources to bear tohelp continue the Company’s leadership in the construction equipment industry.”
About Fushun Excavator
The Company became the first Chinese company to enter the hydraulic crawler crane sector in1984 and successfully launched the first 50-tonne hydraulic crawler crane in China. Fushun
Excavator is China’s largest hydraulic crane crawler manufacturer, carrying a wide array ofproducts ranging from 35 to 350 ton capabilities.
About CITIC Capital Holdings LimitedFounded in 2002, CITIC Capital Holdings Limited is a leading China-focused investment
management and advisory firm. We manage over US$1.6 billion of capital from a diverse baseof global investors. Our core businesses include Private Equity, Real Estate, Structured Finance,Asset Management and Special Situations. Our firm combines deep knowledge of the China
business and financial markets with world-class investment expertise in order to create value forinvestors. We are part of CITIC Group, China's largest and most comprehensive conglomerate.
We currently have over 150 employees located in offices in Hong Kong, Shanghai, Beijing,
Tokyo and New York.
For media enquiries, please kindly contact:
Cindy Tam
Vice President
Corporate Relations
CITIC Capital Holdings Limited
Tel: (852) 2237 6413
Fax: (852) 2169 3636
Email: cindytam@citiccapital.com
CITIC CAPITAL HOLDINGS LIMITED 中信資本控股有限公司
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www.citiccapital.com