XCMG, a global leading construction machinery manufacturer, unveiled ambitious new initiatives, including the establishment of a high-end innovation centre for construction machinery and core components, and a strategic alliance to promote technological development at bauma China 2018, the premier gathering for the Asian construction machinery industry. The company also showcased 79 of its latest products and 41 pieces/sets of core components at the event.
XCMG has seen its earnings almost quadruple over the last year as global economic recovery has continued, and infrastructure investment in China has increased demand for equipment including excavators, loaders and forklift trucks. The company, China's biggest exporter of construction machinery, is predicting solid growth in 2018 on the back of continued improvement in global markets despite rising trade friction between the United States and China.
The first 700-ton hydraulic excavator from XCMG has rolled off the company's assembly line in Xuzhou, China, heralding a new era for Chinese heavy equipment manufacturing. The successful development and production of the new XE7000E makes China the fourth country in the world to have the capability of producing 700-ton excavators after Germany, Japan and the U.S.