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Hyundai Heavy bags $120m Intermat equipment order

Korean goliath will supply over 1000 excavators in earth shaking order

Hyundai Heavy rakes in the cash.
Hyundai Heavy rakes in the cash.

Hyundai Heavy Industries (HHI), the world’s largest shipbuilder and subsidiary of the Korean chaebol, has already signed $120m worth of orders for earth-moving equipment at Intermat 2012, Paris.

The deals include orders to supply 1,050 excavators and 459 wheel loaders, among others.

HHI is showcasing its brand new 9A Series excavators and wheel loaders at the event, as well as hybrid excavators that it claims save fuel consumption by up to 25%.

The Intermat tradeshow, scheduled 16th-21st April, is expected to draw some 200,000 visitors and 1,500 corporate participants from about 127 countries.

HHI’s sales of earth-moving equipment reached over $1bn in the first three months of this year with orders from Europe surging over 10% from a year ago, the company reported to the Korean Herald.

HHI hopes to increase this to 4.6bn by the end of 2012, a 27% improvement on 2011.

 

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