In the American market, Mr. Wang Min visited XCMG Brazil for the fifth time recently and stated the company plans to invest 0.3 billion USD in the next 5 years. XCMG Group also aims to expand its local factory in MG to transform it into an industrial park. In Chile, the XCMG and Chile Chinese-funded Enterprises Conference was held in Santiago this January to help further extend the cooperation and strengthen its relationship with the Chinese-funded Enterprises here.
XCMG also has partnered with other industry giants to facilitate its overseas development. For example, XCMG has partnered with the world-renowned mining company Rio Tinto. This January, Jean-Sébastien Jacques, CEO of Rio Tinto visited XCMG and met with Mr. Wang Min. Together, the two companies will be dedicated to developing global intelligent mining construction. XCMG has signed a partnership with Al Mulla Group, and made Gulf Trading Group, a subsidiary of Al Mulla Group, the sole distributor for all XCMG products and services in the State of Kuwait.
“Overseas markets and the high-end market are the keys to the future development of China’s construction machinery manufacturing. A brand having competitiveness in the global high-end market will be seen as a world-class company,” said Wang Min. XCMG, as the China’s top construction machinery manufacturers for 29 consecutive years, will continue target on the global high-end market in this new year as China also advancing the opening-up policy to a higher level. 2020 is set to be a year in which XCMG’s globalization accelerates and greater achievements are made.