In recent years, Argentina's strict foreign exchange controls have caused companies from many countries to shelve investment in the country or see project cooperation fall through. The most obvious example is the failed transaction in which the well-known CNOOC planned to increase its stake in Argentina's Pan American Energy; CNOOC announced the termination of its deal to acquire a 60% stake in Pan American Energy from BP, a transaction signed in November 2010 worth as much as US$7.06 billion. Some commentators believe Argentina's foreign exchange controls were an important factor in the deal's failure.

　　According to reporters, in recent years Argentina's financial markets have become increasingly volatile, with a rush to buy US dollars. Some international financial experts predict that the local currency, the peso, is accelerating its depreciation. To that end, the Argentine government introduced a series of measures two years ago to tighten foreign exchange controls, in order to curb the sustained rush to buy US dollars and strictly control foreign exchange purchases by companies and residents.

　　Internationally, US-based JLG is the world's largest specialized manufacturer of aerial work equipment, with products sold worldwide. Learning from JLG, matching JLG, and actively opening up overseas markets are Sinoboom's development goals and the direction it is pursuing.

　　It is reported that Pais, as an internationally renowned professional aerial work equipment rental company, is a major enterprise that the Argentine government relies on heavily and plays an important role in Argentina's economic development. Under such strict foreign exchange controls, why was Pais able to sign an agency contract with Hunan Sinoboom Heavy Industry Co., Ltd.? It is understood that Argentina's economic development requires the country to have more advanced aerial work equipment, but European and American aerial equipment companies are expensive, their after-sales service cannot keep up in a timely manner, and they consume too much foreign exchange, among other reasons, leading Argentina to prefer cooperation with Chinese companies offering better cost performance. Hunan Sinoboom Heavy Industry Co., Ltd. is a technology pioneer in China's aerial work platform industry and a high-tech enterprise whose multiple technologies have reached world-leading levels. The company owns independent core technologies and currently has four series of aerial work platforms: self-propelled straight-boom, self-propelled articulated-boom, self-propelled scissor, and spider lifts. It offers very high cost performance in the industry and has consistently received high-quality experiences and praise from customers. The company's products are found throughout China and are also exported to overseas markets such as Southeast Asia, Australia, the Middle East, South America and Europe.

　　During an interview with Sinoboom, reporters learned that Sinoboom is a member of the International Powered Access Federation (IPAF) and a member of the China Construction Machinery Association, and has obtained a series of certificates issued by top international authoritative bodies, including the Australian AS testing certificate, the EU CE certification and the Russian GOST certification.

　　Mr. Rodell, a senior manager at Pais, told reporters that the company had long-term contact with Sinoboom and gained an in-depth understanding of the industry. After comparing several well-known international companies, we believe that Sinoboom's products are outstanding in the industry in terms of high-tech content, pricing and after-sales service, and their overall cost performance suits the needs of Argentina's economic development. Renting or acting as agent for European and American brands involves high prices and lagging after-sales service, which is difficult for Argentine customers to accept and also difficult for the country's foreign exchange control policy to accept. For this reason, the Argentine central government approved this cooperation agreement with the Chinese company. By working with Sinoboom, we can obtain the best return on investment.