Hyundai will add backhoe loaders to its range next year and is actively seeking companies to acquire for sales and product support. The company also has firm plans to add articulated dump trucks (ADTs) to its range. Speaking at the opening of Hyundai`s new branch office in UK, the company would add two backhoe loader models - 90 hp (67 kW) and 100 hp (75 kW) variants - to its range in the second half of 2009. Following that, the company plans to add 40 ton (36.4 tonne) and 50 ton (45.5 tonne) ADTs to the range.
The company was keen to increase its offering with mergers and acquisitions too. Despite a slowdown in European construction and a recession in the US market, Hyundai continues to enjoy booming sales, with a +40% increase last year. The first half of 2008 had seen another +40% rise in sales, which he attributed to developing markets. Another big market for Hyundai is China, where the company has been building excavators since 1995 as part of a joint venture with Chinese manufacturer Changlin. Its early entry into the market helped establish Hyundai as one of the market leaders in the excavator segment, but the company`s market share was beginning to slip. Despite facing stiffer competition in China, Hyundai is branching-out into the 250000 unit per year wheeled loader segment, which is dominated by domestic manufacturers.
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