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Hyundai Construction Equipment wins 250 bln won in orders from China

All News 11:46 March 29, 2021

By Nam Kwang-sik

SEOUL, March 29 (Yonhap) -- South Korean construction equipment maker Hyundai Construction Equipment Co. said Monday it has bagged orders worth 250 billion won (US$221 million) to provide excavators and loaders to China.

The orders, the largest ones since the company began making inroads into China in 1995, include 2,200 pieces of construction equipment, such as 5.5- to 8.5-ton excavators and wheel loaders, the company said.

They accounted for about 30 percent of its entire sale of about 7,800 units last year in China.

The machines will be delivered to Chinese companies by May, Hyundai Construction Equipment said.

This photo provided by Hyundai Heavy Industries Holdings Co. on March 29, 2021, shows excavators launched in early March in China. (PHOTO NOT FOR SALE) (Yonhap)

The orders are attributable to strong demand for construction equipment touched off by China's pump-priming policy, the company said.

In step with China's economic policy, Hyundai Construction Equipment launched 13 kinds of construction equipment, including large-scale excavators, amphibious excavators, pile hammers and nippers, in China in early March.

"Demand for construction equipment is expected to rise 8 percent to 315,000 units this year in China compared with 290,000 units last year," Hyundai Construction Equipment said.

Hyundai Construction Equipment is a subsidiary of global shipbuilding giant Hyundai Heavy Industries Holdings Co.

ksnam@yna.co.kr
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