BANGKOK, Thailand, June 29, 2017 /PRNewswire/ -- XCMG has returned from Intermat ASEAN 2017 ("Intermat") in Bangkok, Thailand with intentional orders contractors, governments and development agencies with a combined value of nearly US$ 100 million, representing further market outreach in the Southeast Asian market.
The only Chinese construction machinery manufacturer invited to exhibit at Intermat, XCMG impressed new and potential clients from around the world with its latest products and the company's gold standard commitment of "Advanced and Endurable."
Hu Xiangyang, vice general manager of XCMG Import & Export, spoke at Intermat's opening ceremony about XCMG's deep roots in the Thai market as well as the new prospects presented by China's Belt and Road Initiative (B&R), a Chinese government development strategy launched three years ago, to create a new "Silk Road" that connects countries across Asia and Africa.
"The B&R has already helped to produce great results in Thailand with the Thai government's recently-increased investment in infrastructure construction bringing new opportunities for construction machinery manufacturers. In addition to further growing the market shares of its mining trucks, loaders, cranes and drilling rigs in Thailand, XCMG plans to bring more products that can support major infrastructure projects like the China-Thailand railway, urban light rail and airport expansion," he said.
By 2016, the company expanded its market share in 48 out of the 65 B&R with exports accounting for 75 percent of total volume.
Since entering the Thai market in the 1990s, the XCMG brand has been highly praised by local construction companies for its reliable product quality and prompt service. As the company maps out new goals in response to the BRI, XCMG is committed to adhering to its core values of shouldering great responsibility and making big achievements.
"XCMG is dedicated to producing top quality construction machinery that can compete with the best brands in the world. We are eager to help Thailand with its program of infrastructure construction that will stimulate economic development and build bridges, both literally and figuratively, that strengthen cooperation at all levels," Hu said.
XCMG is a multinational heavy machinery manufacturing company with a history of 74 years. It currently ranks ninth in the world's construction machinery industry. The company exports to more than 177 countries and regions around the world.