HD Hyundai Infracore Secures Major Excavator Order in Ethiopia

HD Hyundai Infracore has received a significant order for 100 excavators in Ethiopia, aimed at supporting the country’s growing mining sector and infrastructure projects. Previously, the company secured a 57% market share by selling 212 units last year. The firm plans to further expand its operations into neighboring countries across Africa.

HD Hyundai Infracore has secured a notable contract for 100 large excavators in Ethiopia, significant for its strategic expansion in Africa. Announced on March 25, this agreement entails providing 36-ton crawler-type excavators to two mining development firms, with the final deliveries expected by June 2023.

The contract coincides with Ethiopia’s efforts to strengthen its mineral industry, harnessing valuable resources like cobalt and lithium. Furthermore, ambitious infrastructure projects, including the construction of Africa’s largest airport near Addis Ababa, are driving the need for construction machinery, notably the excavators being supplied by HD Hyundai Infracore.

Last year, HD Hyundai Infracore achieved remarkable success in Ethiopia, selling 212 units of its excavators, thereby capturing a 57% market share and establishing itself as the leading supplier. This achievement reflects a broader trend in Africa, where the sales of excavators and medium-to-large wheel loaders surged by 34.8%, increasing from 13,500 to 18,200 units.

An official from the company remarked on Ethiopia’s strategic significance, highlighting that the nation constitutes over one-third of sales in the African market. The company intends to leverage its standing in Ethiopia to broaden its influence into surrounding countries. The official stated, “Based on this, we will expand our market to neighboring countries and strengthen our brand influence across Africa.”

HD Hyundai Infracore aims to extend its sales footprint beyond Ethiopia, enhancing its presence across Africa by integrating its sales force from the Middle East. This strategy reflects the growing demand for construction machinery driven by ongoing infrastructure developments and social overhead capital projects throughout the continent.

In summary, HD Hyundai Infracore’s recent order of 100 excavators for Ethiopia underscores the company’s strategic commitment to expand its operations in the African market. The growing demand for construction machinery in the region, fueled by robust infrastructure projects and strong mineral sector growth, positions Ethiopia as a pivotal market for the company. Furthermore, HD Hyundai plans to extend its influence to neighboring countries, bolstering its brand presence across Africa and responding to the increasing need for heavy machinery.

Original Source: www.businesskorea.co.kr