 In 2011, Sany signed several contracts to open new manufacturing centers, the most important of them include the Zhuhai and Lingang New City centers, and the fifth international equipment plant in Indonesia, the latter with an investment of US$200 million.In January 2012 Sany agreed to acquire a 90 per cent stake in Putzmeister, a Germany-based manufacturer of concrete pumps, for €324 million, with Citic PE Advisors (Hong Kong) Ltd. agreeing to purchase the balance of 10 per cent.In February 2012, Sany and Austria-based Palfinger announced a market venture to make and sell mobile cranes, a project with a total investment of $143 million, plus the construction of a sales unit in Salzburg for $5.4 million.