Global Entrepreneur, a business and financial media outlet in China, announced the "2013-2014 Top 50 Best Performing Companies in China”. With outstanding market performance and remarkable achievements in 2013, Guangxi LiuGong Machinery Co., Ltd, along with Caterpillar, Sandvik, Toyota, Huawei and other well-known companies, was recognized in the "Top 50" list. Huang Haibo, Vice President of LiuGong Machinery, was invited to attend the event and to participate in the "Billions Companies Roundtable” with many business leaders.
The award not only takes financial results into consideration, but also pays attention to whether the companies are trying new strategies and seeking new business opportunities in the changing market.
The global construction machinery market witnessed its most difficult period from 2011 to 2013, while China’s construction equipment market has also been in a difficult situation. LiuGong captured the good times of a booming Chinese market and then weathered the industry downturns. The company remains confident and has stuck to its global market strategy with smart thinking and a long-term plan. In spite of continuous challenges and tough market conditions, LiuGong’s net profit in 2013 increased by 20.41 percent, with overseas market sales growing by 15 percent year on year. While the overall overseas sales of Chinese loader manufacturers declined, LiuGong grew by 19 percent with forklift sales in overseas markets up by 50 percent.
Over the past year, LiuGong took a series of actions in its globalization strategy, demonstrating our confidence and commitment. In 2013, LiuGong opened a new 33,000-square-meter global parts center and laid the foundation stone of the 110,000-square-meter international R&D center, including 20,000 square meters of R&D offices, a testing center and testing field.
Continued investment in R&D and after-sales market is the smart move to provide better service and support to the customers. And the cooperation with world-class partners is another solid strategy. It provides LiuGong with a unique competitive advantage both in China and around the world. And conversely, LiuGong offers extensive support to their partners with its resources in research and development, marketing and service support. In 2013, LiuGong’s joint venture with Cummins made its official start of operations in Liuzhou and the company held a celebration for the completion of the first prototype JV axle, the AP3000, with ZF. And subsequently last June, LiuGong set up a new joint venture with Wuling Group, a General Motors supplier, to produce cabs and sheet metal components for LiuGong machines.
The same business synergy has been formed with Dressta. After the acquisition, the company has built up a stronger LiuGong and Dressta dealer network. The Dressta product line is an integral part of LiuGong’s product line and it is a critical part of their value proposition to dealers and the market as a full line OEM supplier.