HD Construction Equipment has signed a mutual sales partnership for compact construction equipment with Manitou Group, with both groups expanding their compact equipment portfolios.
The signing ceremony was held at Manitou Group’s headquarters in Ancenis, France, with key executives in attendance, including Moon Jae-young, president and CEO of HD Construction Equipment, and Sylvain Blaise, president and CEO of Manitou Group.
Both brands will expand compact equipment offerings
Under this agreement, HD Construction Equipment will source compact equipment product lines from Manitou Group and sell them globally. In return, Manitou Group will integrate HD Construction Equipment’s compact solutions into its own lineup, expanding the product offerings for both the Manitou and Gehl brands.
HD Construction Equipment plans to accelerate its market expansion by enhancing its compact construction equipment lineup. Furthermore, the company aims to scale up compact equipment production and improve both product quality and cost competitiveness. By positioning compact construction equipment as a new growth driver, HD Construction Equipment aims to achieve USD $950 million in segment sales by 2030.
“This partnership is more than just enhancing our product lines; it opens up important new growth opportunities through significant market expansion,” said Moon Jae-young, president and CEO of HD Construction Equipment. “By bringing together our strengths, we will boost the competitiveness of our compact products and enhance our global presence.”
Sylvain Blaise, president and CEO of Manitou Group, added, “This agreement fully aligns with our strategic roadmap aimed at accelerating our growth in compact equipment ranges. By combining the industrial excellence and innovative capabilities of two major industry leaders. This alliance allows us not only to reach a new milestone in product line expansion, but also to deliver enhanced value to our dealer network and customers worldwide.”
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