Xugong Construction Machinery Science & Technology Co, controlled by China's biggest building-equipment maker, will buy assets including stakes in crane and heavy-machinery producers for 5.3 billion yuan (US$777 million).
Xuzhou Construction Machinery Group (XCMG), the country's largest manufacturer of heavy construction machinery, plans to make an initial investment of 500 million yuan (US$72.34 million) to diversify into wind turbine production at a time when crude oil price is going through the roof.