4-traders:Sany Heavy Industry Signs USD178mn Contract With Venezuela
Sany Heavy Industry announces that Sany Automobile Manufacturing, a subsidiary, has signed a significant sales contract with Venezuela's CORPOVEXS.A., which totals USD 178.75 million.
Contract objects include concrete machinery, excavating machinery, cranes and parts and components.
Sany Automobile Manufacturing received 50% of advance payment by Venezuelan company on December 23.
The contract execution helps further enhance the company's competitiveness and brand awareness and make certain positive impact on performance in 2014 and following years.