Boom in building boosts Zoomlion
BIG 5: Chinese machine company predicts huge leap in sales.
One of China's top construction machinery manufacturers, Zoomlion, is predicting a massive leap in sales this year, off the back of the continued Middle East construction boom.
The company, which increased sales in the region from US $8 million in 2005 to $19 million last year, is forecasting a hike in sales of $40 million this year, and $70 million in 2008.
Construction on the company's $2.27 million spare parts warehouse and service centre in Dubai's Jebel Ali Freezone got underway on Saturday.
The 10,000m2 warehouse, which follows an office opening in Dubai in April, will be ready by early 2008.
"We are planning to set up new Zoomlion offices in each of the Gulf Countries," said Chen Peiliang, general man-ager of Zoomlion International Trade Company.
"Currently, Zoomlion's overseas market has exceeded more than $120million, with the Middle East contributing about 30% of that."
Zoomlion joins more than 200 exhibitors this week at the Big 5 PMV.
"The Middle East is very important to us and we're looking forward to even more growth in this area," added Peiliang.
"The Big 5 PMV is an excellent opportunity to meet potential partners throughout the region as well as reinforce relations we already have here."
Zoomlion is among a broad range of plant, machinery, construction vehicles and equipment suppliers who will use the Big 5 to meet with key buyers from across the region and overseas.
The company, which is listed on the SZSE Component Index 100, manufactures a wide range of construction industry machinery, including tower cranes and trailer concrete pumps which are a familiar sight on building sites in the UAE and across the Middle East.