Other companies also make small construction equipment "but Terramite equipment has unique features, a unique market share," he said. "Technology in the U.S.A. is still way ahead — that's also true in many other areas, not just construction equipment."
Xu said he had been looking at a variety of companies in the United States for possible purchase, with a focus on equipment manufacturers. "Terramite stood out," he said.
Kelly G. Cunningham established Terramite 47 years ago. In 2008 his sons, Bob and John Paul Cunningham, sold the company to Coneqtec Universal Corp. of Wichita, Kan. Xu said he bought the company from Coneqtec on Aug. 31. He declined to disclose the price.
Xu said he has been spending a lot of time here because so many details need to be attended to in his effort to re-energize Terramite. He is not getting much sleep because the time difference between China and the United States allows him to work almost 24 hours a day.
His Chinese construction equipment manufacturing company, Lioning Heavylong, has about 300 employees. Xu said he established the company in 1993 "with very little." Heavylong is headquartered in Anshan, a northern Chinese city of almost 3.5 million people that is near the North Korean border.
Xu said he has received a warm welcome from state and local officials in West Virginia. He proudly shows off a lapel pin shaped like the state.
An associate said Xu is looking to buy a home in the area.
Contact writer George Hohmann at busin...@dailymail.com or 304-348-4836.