 The Hytsu plant in Shanghai. |
Hytsu Material Handling, of Shanghai, China, has been an active participant in every major materials handling show worldwide for the past two years, promoting its fast-growing brand.
For a company that started forklift sales only two years ago, Hytsu's sales for fiscal 2005 of USD35 million are phenomenal.
Company founder and president Jerry Hu was at Matex, in Sydney, Australia, last week. He spoke to
Forkliftaction.com News about his company's success.
"Every year we introduce new products to meet our customers' requirements," Hu said. Hytsu offers one ton to 10 ton warehouse forklifts to overseas markets only. Its biggest market is Europe, followed by Australia and North America.
Forklift sales jumped 53 per cent from 2004 to 2005 and Hu predicts 10 per cent growth in 2006.
He says he has a different idea to other companies on how to grow his business.
"It's a secret [but] pay more attention to Hytsu's development [in the future]."
With start-up capital of USD1 million in August 2001, Hu ran the business on his own for the first year. Today, Hytsu, headquartered in Shanghai's Waigaoqiao free trade zone, has more than 500 employees and about 4,000 Hytsu forklifts operating worldwide. More than 200 dealers supply Hytsu in 70 countries. Australia has six dealers.
Hytsu has an annual USD500,000 promotions budget to spend on advertising, company merchandise and trade show exhibitions. Five per cent of sales revenue is injected into research & development.
Hu says he travels extensively as Hytsu exhibits at five to six exhibitions a year. The company will be in Russia in July, CeMaT Asia, in Shanghai in October, at IMHX, in Birmingham, UK, in March 2007, and Promat in Chicago, USA, in January 2007.
Hytsu introduced three-wheel electric one ton to 1.8 ton counterbalanced trucks this year. An AC-version will be introduced at year end and a reach truck is planned for next year.
"We need a full product range to meet dealer requirements. Our aim is to have dealers who represent only the Hytsu range in the future but it's impossible now because the brand is not big enough," Hu said.