LiuGong chairman Zeng Guang’an has stressed the importance of the European market to the long-term health of the global construction equipment industry.
“Europe is both an opportunity and challenge to
Guang’an, who is also LiuGong’s president, said LiuGong Europe had achieved more than €37 million in sales revenues in 2014 – 10% of total overseas sales by the Chinese construction equipment manufacturing giant in the year. This almost matched results in 2013, he added. Globally, Guang’an said LiuGong had achieved €1.5 billion sales revenues, with 35,000 machines sold.
While LiuGong was focused on providing strong customer support through “localised business models”, Guang'an also sees the delivery of reliable products as key to success. He highlighted how R&D has been one of LiuGong’s top priorities, pointing to the earmarked June 2015 opening of the company’s new R&D centre next to LiuGong’s Liuzhou, southern China, HQ.
Of the continuing challenging global construction equipment trading climate, Guang’an said: “There has been intensive regional political and economic situations: lower demand for resources, emerging economies decreasing, and conservative investments. This has all led to a sharp decrease in demand for heavy equipment.”
Guang’an said the tough trading conditions had led to the firm restructuring and focusing on efficiencies to adapt to the “new normality of the industry”.
This has included LiuGong offering new products, such as mobile crushers, through its joint venture with Finnish crushing and screening equipment giant
