A Hyundai HBR14-7 reach truck

Hyundai Heavy Industries Europe (HHIE) is upbeat in its outlook for this year, after revealing at Bauma 2007 that its construction equipment and forklift sales grew 40 per cent for 2006.

From 2003 to 2005, the Korean manufacturer increased its trade volume in the European market by about 25 per cent a year.

In 2005, HHIE supplied 2,000 construction equipment units and 1,000 forklifts to Europe, achieving total sales of EUR160 million (USD216.8 million).

Construction equipment sales jumped to about 2,700 units and forklift sales to 1,500 units for 2006, a 40 per cent hike from 2005. Turnover rose to EUR230 million (USD311.6 million).

HHIE marketing manager Michel de Weert said the company worked hard to expand its dealer network and open new markets.

"We have supported our dealers with attractive terms and comprehensive marketing campaigns.

"At the same time, Hyundai has invested in research and development and today offers a wide and varied range of products."

In March 2007, HHIE introduced its first Korean-design reach trucks to the European market. De Weert said HHIE was working on more Europeanised reach truck models (Forkliftaction.com News #299).

"Time will tell whether such a high rate of growth will continue at full throttle or stabilise. However, given the general prospects of economic development in EU countries and the extra stimulus provided by Bauma, we enter this new year in a very positive mood," de Weert said.