Hyundai Construction Equipment has won an order for large scale construction equipment from Russia.
Hyundai Construction Equipment said on Aug. 19 that it has recently won a package of orders worth 30 million U.S. dollars, including 260 excavators, from a Russian client company.
The figure is equivalent to 35 percent of the total sales made by Hyundai Construction Equipment in Russia last year, and the company will manufacture these equipment at its Ulsan plant and deliver them to its customers sequentially by the end of this year.
Hyundai Construction Equipment has been continuously increasing sales of construction equipment such as excavators and wheel loaders in Russia and nearby Commonwealth of Independent States (CIS) markets every year to 403 units in 2016, 1,088 units in 2017 and 1,198 units in 2018.
In particular, Hyundai Construction Equipment established its branch in Moscow in 2008 and has been expanding sales based on active sales strategies and solid partnerships with local customers.
It currently ranks as one of the top three construction equipment makers in the region and accounts for more than half of the total sales in the Russian market, along with Japanese companies such as Komatsu and Hitachi.
"Russia and CIS are markets where growth is expected, and sales performance in the region is also steadily increasing," said an official at Hyundai Construction Equipment, adding " As we are focusing on expanding sales of large and special equipment with high profitability, we will see a full-scale increase in sales in the future."