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Hyundai announces big plans for construction logistics

Hyundai Construction Equipment (HCE) has announced its intention to become one of the global top 5 players in the construction equipment sector by 2023, with a planned annual turnover of 7 trillion won (AED 23-billion).
The announcement was made at 2017 CONEX Korea held in KINTEX, an exhibition centre in South Korea.
The announcement was made at 2017 CONEX Korea held in KINTEX, an exhibition centre in South Korea.

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Hyundai Construction Equipment (HCE) has announced its intention to become one of the global top 5 players in the construction equipment sector by 2023, with a planned annual turnover of 7 trillion won (AED 23-billion).

The announcement was made at 2017 CONEX Korea held in KINTEX, an exhibition centre in South Korea.

Kong Ki-young, president & CEO announced the ‘Vision 2023’ under which HCE plans to enter the top 5 ranking by 2023 in the global construction equipment market by improving product qualities and expanding its footing into new overseas markets.

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At the event, HCE also unveiled a HW145 excavator and a 30D-9H forklift with upgraded operability and durability that are specifically targeting the domestic market.

HCE is aiming to take the number 1 position in its home market this year by actively expanding new product lines of mini excavators that have been witnessing an annual average growth rate of 13% for the past 5 years, and by expanding the application of Hi-Mate 2.0, HCE’s mobile control system, into a variety of its products.

HCE attributes the 91% increases in domestic sales it recorded for the first quarter this year to its efforts to launch metropolitan-level retail stores, second-hand product distribution support centres, and professional nation-wide service centres.

HCE also saw 30% increases in its global sales on the back of customized products in emerging markets and a recovery in global construction equipment market.

Kong Ki-young said, “By actively upgrading quality, performance and services of our products to the top-tier level, HCE will emerge to a world-class construction equipment maker.”

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