HD Construction Equipment, Manitou Group partner on compact equipment
Company targeting $960M in compact equipment sales by 2030
HD Construction Equipment signed a deal with French OEM Manitou Group to expand both companies’ compact construction equipment portfolios and accelerate growth in the global compact equipment market.
Under the agreement, HD Construction will source compact equipment product lines from Manitou Group and sell them globally, according to today’s HD Construction Equipment release. Manitou Group will add HD Construction Equipment’s compact solutions to its Manitou and Gehl product lineups.
Manitou Group manufactures construction, agricultural and industrial equipment, including telehandlers, forklifts, compact loaders and aerial work platforms, with distribution in 140 countries, according to the release.
HD Construction Equipment said the partnership will broaden its construction equipment lineup while supporting increased production, improved product quality and greater cost competitiveness.
HD Construction Equipment, which formed in June after the HD Hyundai Construction Equipment and HD Hyundai Infracore merger, is targeting 1.3 trillion South Korean won ($960 million) in compact equipment sales by 2030 and plans to position the segment as a new growth engine, according to the release.
Combining the companies’ strengths will improve HD Construction Equipment’s product competitiveness and global presence, according to the release. The partnership supports Manitou Group’s strategy to expand its compact equipment ranges and provide additional offerings to dealers and customers worldwide.
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