LiuGong aims to double US$700m export sales in 3 years
Zeng Guang'an, LiuGong vice chairman and president, has spoken of the firm's ambitious plans to double its overseas sales revenue
A senior LiuGong figure has revealed that the Chinese construction manufacturing giant is looking to double its US$700million overseas sales for 2012 in the next three years.
Speaking at bauma 2013 Zeng Guang’an, the company’s vice chairman and president, explained how the ambitious international sales target was getting closer to being realised.
“Overseas sales revenue [of all company revenues] in 2011 was around 18%. Last year we reached 28%. So hopefully in the next five years we can reach 35-40%. This is much faster than growth in China because China’s market is settled,” said Guang’an.
He added that sharing market share with joint venture partners Cummins and ZF and investing in advanced and cost-sensitive technology were two key areas that would help LiuGong achieve its overseas sales goal.
“Only if we balance these advantages we can cover 100% of the market,” he added.
Asked during the joint LiuGong, Cummins and ZF press conference about the state of the construction equipment market in China, Guang’an said: “In the first quarter of 2013, it is down about 20%. However, in the next three quarters we can see the market picking up. Hopefully we can see the whole market in China will grow by 5 to 10%. It depends on the different product strands. Generally, it will be a better year than last year.”
At bauma 2013, LiuGong is unveiling its new 375B radial-lift skid-steer and new 945E excavator. They are among the company’s 22-machine line-up at the show.