Hyundai Everdigm enters NA construction machinery market

South Korea’s Hyundai Everdigm Corp. announced on Monday that it has signed a dealership agreement with the US-based heavy equipment specialized Manitowoc Group to enter the construction machinery market in North America.

Established in 1902, Manitowoc is a global heavy equipment firm including large industrial cranes. The company, with a network and service centers in 18 cities in North America, has an annual sales revenue of $1.65 billion.

Hyundai Everdigm plans to export various concrete pump cars to the North American market in partnership with Manitowoc's subsidiary responsible for crane sales and services.

To expand exports, the South Korean company is participating in a construction equipment exhibition in Las Vegas, deploying a dedicated sales team and engineers locally.

When Manitowoc enters Asian markets such as China and Indonesia, Hyundai Everdigm will play a supporting role, engaging in joint marketing efforts.

Through this deal, Hyundai Everdigm aims to enhance its product competitiveness in the North American market and expand its export items.

Write to Hyung-Kyu Kim at khk@hankyung.com