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China's Sany Heavy bets on overseas demand to fuel growth

Machinery maker targets foreign markets as domestic revenue still recovering

Sany excavators at a Shanghai factory in 2020. The company's renewed overseas focus will pit it against rivals such as U.S.-based Caterpillar and Japan's Komatsu.   © AP

SHANGHAI -- Emboldened by record revenue from abroad last year, China's largest maker of construction machinery by market capitalization plans to intensify its focus on foreign markets in a move that sets it up for a clash with rivals including America's Caterpillar and Komatsu of Japan.

Sany Heavy Industry says it will concentrate on developed economies, with a strategy of increasing localization through local recruitment as well as investing more in high-tech manufacturing.

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