HD Hyundai Infracore Secures Major Excavator Order in Ethiopia

HD Hyundai Infracore has secured a pivotal order for 100 excavators in Ethiopia, focusing on the thriving mining sector and infrastructural development. The contract will bolster its market presence, reflecting an overall rise in excavator sales across Africa. The company plans to leverage this success for further expansion in the region.

HD Hyundai Infracore has successfully secured a significant contract for 100 large excavators in Ethiopia, a move aimed at facilitating its strategic growth on the African continent. This contract, announced on March 25, involves the delivery of 36-ton crawler-type excavators to two mining companies, with completion scheduled for June of this year.

This accomplishment aligns with Ethiopia’s efforts to enhance its mineral sector, capitalizing on its abundant resources, including cobalt and lithium. Additionally, a major infrastructure project near Addis Ababa aims to construct Africa’s largest airport, which is projected to serve 110 million passengers annually, contributing to the strong demand for construction machinery such as the excavators provided by HD Hyundai Infracore.

Last year, the company recorded impressive sales in Ethiopia, having sold 212 units of this excavator model, resulting in a dominant 57% market share and solidifying its status as the leading supplier in the region. This trend is reflective of a broader movement throughout Africa, where excavator and medium-to-large wheel loader sales surged by approximately 34.8%, increasing from 13,500 units to 18,200 units in the previous year.

A company representative highlighted Ethiopia’s pivotal role in the market, stating, “Ethiopia is a key market, accounting for more than one-third of sales in the African market.” The company aims to build on its successful position in Ethiopia to expand into neighboring countries and enhance its brand visibility throughout Africa. “Based on this,” he added, “we will expand our market to neighboring countries and strengthen our brand influence across Africa.”

Furthermore, HD Hyundai Infracore’s expansion strategy not only targets growth within Ethiopia but also includes increasing its sales initiative from the Middle East into the broader African continent. This strategic approach is driven by the rising demand for construction machinery, propelled by ongoing infrastructure development and social overhead capital (SOC) projects across Africa.

In conclusion, HD Hyundai Infracore’s recent order for 100 excavators underscores its strategic expansion into the Ethiopian market, which is poised for significant development within the mineral sector and large-scale infrastructure projects. With an impressive prior year and significant market share, the company is well-positioned to further extend its influence in Africa. The emphasis on neighboring countries and robust demand for construction machinery will likely foster continued growth and operational success for the company in this region.

Original Source: www.businesskorea.co.kr