Newsletter #310 (View other news stories)
Europe part of Clark’s strategy
BUCHEON, Korea, South
Thursday, 17 May 2007
Clark Material Handling International Inc (CMHI) CEO Joo-Hyun Song says the forklift manufacturer will be one of the world’s top seven manufacturers by 2011.
And the European market will be part of its strategy to grow its market
share.
"The 90th anniversary of Clark’s invention of forklifts on May 16 will greatly serve this purpose," Song said. Clark’s Lexington, Kentucky, US headquarters invited 300 guests from the US and overseas to a series of events in the US this week to celebrate Clark’s 90th anniversary.
Song told Korea Economic Daily Clark aimed to increase its annual production capacity to 30,000 units by 2011. The company plans to aggressively market its forklifts with a focus on Europe.
Clark has gained momentum in re-establishing its name since Korean company Young An Hat Co Ltd took ownership in 2003 (Forkliftaction.com News #092). The company returned to the black in 2004 and has been profitable since then. Sales jumped from USD190 million in 2004 to USD250 million in 2006. CMHI made a USD8.7 million profit in 2006, compared to USD1.2 million in 2004.
A smooth transition from Korean management culture to individual overseas sales companies’ cultures was singled out as a reason for Clark’s success.
According to Song, all Clark’s overseas sales companies were staffed by local employees, eliminating cultural clash. He used video conferencing to keep in touch with sales company representatives worldwide.
Song was interviewed by Korea Economic Daily on May 6 at CMHI’s Bucheon head office. CMHI has published an English translation of the article on its website.
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