The hottest XCMG is ready to enter the excavator a

XCMG is ready to enter the excavator and heavy truck market

XCMG is ready to enter the excavator and heavy truck market

China Construction machinery information

Guide: Wang Min, chairman of XCMG group, recently revealed that XCMG decided to withdraw from caterpillar (Xuzhou) Co., Ltd. and set up its own excavator production enterprise, and planned to purchase heavy truck enterprises to enter the heavy truck production field, creating a complete set production pattern of construction machinery. In this regard, Caterpillar (China) investment has

Wang Min, chairman of XCMG group, recently revealed that XCMG decided to withdraw from caterpillar (Xuzhou) Co., Ltd. and set up its own excavator production enterprise, and planned to purchase heavy truck enterprises to enter the heavy truck production field, creating a complete set production pattern of construction machinery

in this regard, a spokesman for caterpillar (China) Investment Co., Ltd. pointed out yesterday that at present, Carter and XCMG are discussing how to continue their cooperation and the way of cooperation in the future. Carter hopes that the cooperative relationship with XCMG will continue to be an important part of caterpillar China

exit from the joint venture

caterpillar (Xuzhou) Co., Ltd. was established in October 1994. It is the first joint venture in China to produce high-grade hydraulic excavators. Jinan new era Gold Testing Instrument Co., Ltd. has a rotor free vulcanizer quality stability industry. At that time, XCMG and caterpillar jointly invested $82million, with a shareholding ratio of 4:6. According to the agreement, XCMG will no longer produce excavators after the establishment of the joint venture. After several capital and share increases, XCMG currently holds 15.87% of the equity of Carter Xuzhou company

now, caterpillar Xuzhou has become the second largest hydraulic industry in the world, the first excavator production base in the province, the largest production base in the Asia Pacific region, and the manufacturing center for a variety of products and parts

according to Wang Min, XCMG Group intends to transfer all the shares of Carter Xuzhou company this time, and then newly establish Xuzhou XCMG excavator Co., Ltd., with a temporary registered capital of 50million yuan and an initial investment of 200million yuan. It plans to produce 400 small excavators within this year and achieve sales of 1billion yuan within three years. It is revealed that XCMG and caterpillar have reached a consensus on future cooperation in parts production and other aspects

at the same time, XCMG also plans to acquire a domestic heavy truck enterprise within the year to make up for its blank in heavy truck and create a pattern of complete production of construction machinery

in addition, XCMG, which has experienced twists and turns in restructuring, still hopes to introduce international capital and open its way to internationalization through restructuring. Wang Min revealed that the cooperation between Carlyle and XCMG is still worth looking forward to. He also said that if the cooperation with Carlyle ultimately fails, XCMG will also consider other plans to introduce financial capital or industrial capital, but will first consider domestic institutions, provided that XCMG must hold shares

caterpillar hopes to continue to cooperate

in response to XCMG's withdrawal, a spokesman for caterpillar said that Carter and XCMG have a long and successful history of cooperation. At present, the two sides are discussing how to continue cooperation and the way of cooperation in the future. Carter hopes that the cooperative relationship with XCMG will continue to be an important part of caterpillar China

the spokesman pointed out that Carter Xuzhou company has become an indispensable part of the local community in Xuzhou, and the current general manager of the company is a Xuzhou native. Over the past 14 years, caterpillar has continued to increase investment in Xuzhou company and 15 other enterprises in China, which is reflected in the expansion of production scale, the introduction of new products, and its commitment to the training and development of local talents. The company hopes to ensure the continuous growth and development of Carter Xuzhou company

at present, caterpillar has 16 joint ventures or wholly-owned enterprises in China. Caterpillar introduced its comprehensive service business including logistics, financial leasing, training, marketing and R & D activities into China. The spokesman said that caterpillar will be a long-term investor in the Chinese market. The company will continue to make important new investment initiatives in China in order to provide Chinese users with the world's best products and services

the boom of small excavation market is booming.

XCMG entered the excavator industry with a high profile, which is inseparable from the rising demand of the excavator market in China in recent years

in recent years, the repair and maintenance of roads and municipal facilities and urban engineering projects in China have increased, which is of great significance. The proportion of project business volume in the total social construction is increasing, and the demand is expanding from the east to the central and western regions. According to statistics, the total sales volume of Crawler excavators in China reached 33685 in 2006, accounting for 27% of the total global sales volume

at the same time, the market share of domestic self owned brand excavators has gradually expanded. At present, the market share of domestic excavators with independent brands has increased from 5% in 2000 to 27% in 2007. The products of Liugong, Shanhe intelligent, Zoomlion and other companies all occupy important markets. Among them, the localization speed of small excavators is faster

the small hydraulic excavator built by XCMG this time is a segment of the rapidly growing market. In 2005, the sales volume of small excavators under 13 tons in China was 12000 units, accounting for 40% of the total sales volume of hydraulic excavators; In 2006, the sales volume reached 17500 units, with a year-on-year increase of 45%, but the proportion fell to 38%. If exports are deducted, this proportion is only about 25%. According to statistics, in the four years of, the average annual sales growth rate of small excavators in China reached 100%. Nevertheless, the proportion of sales of small excavators in excavators is still significantly lower than 50% in developed countries. Some researchers predict that assuming that the sales volume of domestic small excavators accounted for 40% of the total excavator volume in 2010, based on the total sales volume of 120000 excavators in 2010, it is expected that the domestic demand for small excavators in China will reach about 48000 units by then, and the compound growth rate in the next four years will be about 30%. In this way, XCMG's small excavation strategy just hit the beat of the market

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