Sany Heavy Industry Co (600031.SH) is rumored to be in the market for a US$80 million Airbus A320 airplane, an insider source told China Business News Sunday. Sany executive president Xiang Wenbo and other senior managers declined to comment. The source, from a fund house, said some securities brokerages have long known Sany was planning to buy an Airbus plane but that the aircraft maker was unaware because Sany had not made a public announcement. A market watcher said Sany was planning to buy a plane to enable it to fly clients as it sought to ramp up its offshore business. The company exported RMB1.658 billion (US$242.58 million) worth of goods in 2007, up 190.36% on a year earlier. Its turnover surged 76% to RMB9.15 billion (US$1.34 billion) last year, earning it a net profit of RMB1.91 billion (US$278.86 million), up 157.12% on the year before. It had RMB11.18 billion (US$1.64 million) in total assets and RMB5.05 billion (US$738.41 million) in net assets as at the end of 2007.