HD Construction Machinery is strengthening its push into the global compact construction equipment market by partnering with France's Manitou Group.
On September 21, HD Construction Machinery and Manitou Group signed a mutual sales partnership agreement at Manitou's headquarters in Ancenis, France. Key officials from both companies, including Moon Jae-young, President of HD Construction Machinery, and Sylvain Blaise, President of Manitou Group, were present for the signing.
Manitou Group is a global equipment company that supplies a variety of construction, agricultural, and industrial equipment, including telehandlers, forklifts, skid steer loaders, and aerial work platforms, to 140 countries worldwide under the Manitou and Gehl brands.
Under this partnership, HD Construction Machinery will supply Manitou's compact construction equipment for sale in the global market under the Hyundai and Develon brands. Manitou Group will expand its portfolio by adding HD Construction Machinery's compact construction equipment to its offerings.
With this collaboration, HD Construction Machinery plans to accelerate its market penetration by enhancing its compact construction equipment lineup. The company aims to improve product quality and price competitiveness through increased production scale of compact construction equipment. HD Construction Machinery has set a target of achieving 1.3 trillion won in sales from compact construction equipment by 2030.
Moon Jae-young, President of HD Construction Machinery, stated, "This collaboration is significant as it creates new growth opportunities through market expansion. We will combine the strengths of both companies to enhance the competitiveness of our compact construction equipment products and further elevate the global market presence of the Hyundai and Develon brands."
Sylvain Blaise, President of Manitou Group, remarked, "This collaboration is part of a strategic roadmap to accelerate the growth of our compact equipment product line. By combining the manufacturing capabilities and innovation of both companies, we will strengthen our product portfolio and provide greater value to dealers and customers worldwide."
HD Construction Machinery was established in January of this year through the merger of HD Hyundai Construction Machinery and HD Hyundai InfraCore. The company is restructuring its product lineup based on a dual-brand system of Hyundai and Develon, with plans to expand its compact equipment business to create a full lineup ranging from compact to large-scale equipment.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.