Liugong sets sights on US$7.5bn profit by 2015
Chinese machinary manufacturer's profits could surge by 100% in 2010
Chinese manufacturer Guangxi Liugong Machinery predicts that sales could have by 75-100% in 2010.
The Chinese company said added that it is aiming for profit of CNY20 billion ($3 billion) in 2011 as it targets profits of CNY 50 billion by 2015.
Liugong is focusing on its three core divisions of loaders, excavators and hoisters, although buyers can also expect developments in its range of forklifts, bulldozers, pavement construction machinery and special-purpose machinery.
LiuGong is looking to expand its presence in the Middle East as part of its goal of becoming one of the world’s leaving heavy equipment suppliers. It also recently expanded its Middle East footprint by opening a subsidiary in Dubai that will supply machines and spare parts to the entire region.