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Caterpillar: the construction machinery market will stabilize and recover in the second half of the year caterpillar: the construction machinery market will stabilize and recover in the second half of the year China Construction machinery information at the media exchange meeting held on September 14, chenqihua, global vice president of caterpillar (nyse:cat) and chairman of caterpillar (China) Investment Co., Ltd., said: at present, there is no major layoff plan in China, Moreover, China is regarded as an important strategic base for global development. It is expected that the Chinese market will be better in the second half of this year than in the same period last year

affected by slow global economic growth and sluggish demand, caterpillar announced a major restructuring and cost reduction plan in september2015. It plans to reduce 10000 employees by the end of 2018, and merge or close more than 20 factories worldwide. Zhangquansheng, vice president of caterpillar (China) Investment Co., Ltd., said at the exchange meeting that since the above plan was announced last year, caterpillar has made major adjustments in the United States and Europe. Caterpillar's first half financial report shows that compared with last year, the number of employees this year has decreased by nearly 14000

although the industry has been in a downturn in the past three to four years, chenqihua said that caterpillar's business development in China is still in a virtuous circle, and there is no large-scale layoff plan

since the "4trillion" economic stimulus in 2008, social investment in fixed assets has continued to grow, and the construction machinery industry has ushered in rapid development. However, since 2012, affected by the decline of macroeconomic growth, the revenue and net profit of domestic construction machinery manufacturing enterprises have decreased. In 2015, the profits of several domestic construction machinery manufacturing giants, such as Sany Heavy Industry (), XCMG machinery (), Zoomlion (), generally fell by 80% to 90%, and companies laid off workers to cut costs

the number of employees of Sany Heavy Industry once reached 51827 in 2011. By the end of 2015, the number of employees decreased by more than 60% to 16119, depending on downstream demand and the expansion of the company's overseas resources. The number of employees of Zoomlion also decreased from 31707 in 2012 to 19141 in 2015, a decrease of more than 30% in three years. Previously, duyigang, vice president of Zoomlion, said in an interview with Caixin that about 6000 people left in 2015, and about 3000 people left this year. At present, the company has about 7000 employees in the construction machinery business segment

in the first half of 2016, the market demand of China's construction machinery still did not improve significantly, and most enterprises only achieved weak profits. According to the 2016 interim report, XCMG's net profit in the first half of the year was 127million yuan, Sany's net profit was 138million yuan, and Zoomlion's net loss was 840million yuan, with a year-on-year decrease of 170%

when talking about the situation of China's construction machinery market in the second half of this year, chenqihua pointed out that the industry is still in a continuous downturn, but there are signs of stabilization and recovery. The market situation in the second half of this year will be better than that in the same period last year

infrastructure construction is the core of caterpillar. Chenqihua believes that the gradual commencement of the "13th five year plan" project and the rise of the real estate industry are good opportunities for the steady development of the construction machinery business sector. According to the data released by the National Bureau of statistics on September 13, the infrastructure investment in September was 7082.7 billion yuan, a year-on-year increase of 19.7%; National real estate development investment increased by 5.4% in nominal terms year on year

chenqihua believes that the "the Belt and Road" strategy of different testing projects and the structural adjustment of China Energy 324 stadium are the new growth points of Caterpillar's business in China. The "the Belt and Road" strategy has brought opportunities to domestic high-speed rail and other infrastructure fields. He said that caterpillar is negotiating with customers and hopes to provide smart and interconnected Carter equipment and services

caterpillar's main business 6. Packaging and process performance test instruments (including packaging drop test instruments, packaging impact test instruments, friction and wear test instruments, bending test instruments, straightening machines, etc.); Services are distributed in three major fields: energy, construction and transportation. At present, China is carrying out energy structure adjustment, and the state strongly supports the development and utilization of clean energy. In March this year, the Ministry of Finance issued a notice on increasing CBM subsidies, stipulating that during the "13th five year plan" period, the central government subsidy standard for CBM (gas) mining and utilization will be increased from 0.2 yuan/cubic meter to 0.3 yuan/cubic meter. Caterpillar has the world's largest coal-bed methane power generation project in Jincheng, Shanxi. Chenqihua believes that policy support will also drive the growth of Caterpillar's energy sector

caterpillar is the world's largest manufacturer of earthwork machinery, construction machinery and mining equipment. It is also the world's major supplier of diesel engines, natural gas engines, industrial gas turbines and diesel electric hybrid power units. Its headquarters are located in Illinois, USA

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