HD Hyundai Infracore Announces Major Order for Excavators in Ethiopia

HD Hyundai Infracore has secured an order for 100 excavators in Ethiopia, aimed at supporting the nation’s growing mining industry. With deliveries set by June 2023, the company seeks to leverage Ethiopia’s strategic importance to expand its influence into neighboring African countries and further develop its sales force across the continent.

HD Hyundai Infracore has recently finalized a substantial order for 100 large excavators in Ethiopia, significantly enhancing its strategic expansion within Africa. This contract, announced on March 25, pertains to the supply of 36-ton crawler-type excavators targeted for two mining development companies, with delivery expected to conclude by June 2023.

Ethiopia is increasingly focusing on developing its mineral industry, utilizing its abundant resources such as cobalt and lithium. Additionally, the construction of Africa’s largest airport near Addis Ababa, projected to handle 110 million passengers annually, is further fueling the demand for construction equipment, including the excavators from HD Hyundai Infracore.

Last year, HD Hyundai Infracore achieved remarkable success in Ethiopia, selling 212 units of the same excavator model and taking a dominant 57% market share, thereby establishing itself as the leading supplier in that region. This growth aligns with an overall trend in Africa, where sales of excavators and large wheel loaders surged by 34.8%, increasing from 13,500 to 18,200 units in the previous year.

An official from the company highlighted Ethiopia’s vital role in its market strategy, stating, “Ethiopia is a key market, accounting for more than one-third of sales in the African market.” The official conveyed that the company intends to use its stronghold in Ethiopia as a platform to expand into neighboring countries, thereby enhancing its brand presence across the continent. “Based on this,” he further added, “we will expand our market to neighboring countries and strengthen our brand influence across Africa.”

Moreover, HD Hyundai Infracore is not only concentrating on Ethiopia but also planning to extend its sales force to encompass a wider African region. This strategy addresses the increasing demand for construction machinery spurred by ongoing infrastructure development and social overhead capital (SOC) initiatives across Africa.

In conclusion, HD Hyundai Infracore’s recent order of 100 excavators for the Ethiopian market marks a significant advancement in its expansion strategy within Africa. The company’s emphasis on Ethiopia’s burgeoning mineral sector and infrastructure projects underscores its commitment to enhancing its market presence. The impressive market share achieved, coupled with plans for regional expansion, positions HD Hyundai Infracore favorably for future growth in the African construction machinery sector.

Original Source: www.businesskorea.co.kr