XCMG Eyes More Overseas Business Opportunities
www.chinatrucks.com: XCMG Group, a major construction machinery manufacturer in China, will continue exploring the overseas market, reported China Business News, citing company chairman Wang Min.
XCMG has set up a sales firm in Brazil and owns subsidiaries in India, Malaysia, Guinea and Russia. The company has also coordinated with local partners to launch SKD plants in Brazil, Turkey, Iran and Ethiopia.
“XCMG will take three to five years to explore the overseas market and expects a combined international index in oversea revenue, staff and assets to surpass 25 percent,” said Wang.
The Chinese manufacturer exports more than 10,000 construction machinery models to over 140 countries annually and realized export revenue of $920 million in the first eight months of 2012, up 46 percent on a yearly basis, added the chairman.
According to an insider of XCMG, the group is restructuring its subsidiaries into different sectors such as a crane department, excavator department, and concrete (pump) truck department.
“The above restructuring work will open more employment opportunities,” said the insider.
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