Hyundai Heavy to supply excavators to CNH Industrial for 10 years

SEOUL, Sept. 11 (Yonhap) -- Hyundai Heavy Industries Co., a major South Korean construction equipment maker, on Sunday said it has signed a deal with CNH Industrial over the supply of excavators.

Under the agreement, Hyundai Heavy will supply 5 to 6 ton excavators to CNH Industrial on an original equipment manufacturing basis for 10 years starting in 2017.

Hyundai Heavy is also set to provide complete knockdown kits for 1 to 4 ton excavators to CNH Industrial. Hyundai Heavy excavators will be sold as Case and New Holland, brands belonging to CNH Industrial.

Hyundai Heavy said the deal could double its annual sales to 9,000 units as CNH Industrial has about 1,200 dealers around the world.

Hyundai Heavy said the partnership recognizes its technological competitiveness in the global market and secures it a foothold to expand its business in small construction equipment.

CNH Industrial has several brands and offers a wide range of products, including tractors, agricultural machinery, earth moving equipment, commercial vehicles and construction vehicles.

Hyundai Heavy also has several units, including shipbuilders, and offshore and industrial plants.

entropy@yna.co.kr
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